According to a draft published by the Vietnamese Ministry of Finance, the country is preparing to introduce a tax system for cryptocurrency transactions that will equate digital assets to securities trading.
Once the bill is passed, individuals transferring crypto assets through licensed service providers will be subject to a personal income tax of 0,1% of each transaction amount. This structure is similar to the tax currently levied on stock trading.
Companies operating in Vietnam will be taxed differently. According to the draft, institutional investors receiving income from cryptocurrency transactions will be subject to a corporate income tax of 20% of their profits after deducting acquisition costs and related expenses.
The bill also sets out strict requirements for operators. Firms wishing to open a crypto exchange will be required to have authorized capital of at least 10 trillion Vietnamese dong (approximately $408 million). This is more than required for commercial banks and far exceeds capital standards in many other industries. Foreign ownership will be permitted, but the proportion of international capital must not exceed 49% of the exchange’s authorized capital.