Vietnam Introduces 0.1% Crypto Tax Similar to Stock Trading

Vietnam's Finance Ministry plans a 0.1% tax on cryptocurrency transactions, alongside a 20% corporate tax on profits and stringent licensing for exchanges.

The Finance Ministry of Vietnam is set to implement a new taxation framework for cryptocurrencies, proposing a 0.1% levy on all crypto transactions. This move aims to align the taxation of digital assets with that of traditional stock trading.

In addition to the transaction tax, the ministry is also advocating for a 20% corporate tax on profits derived from cryptocurrency investments. These measures are part of a broader effort to regulate the burgeoning digital asset market in Vietnam.

Furthermore, the government plans to enforce strict licensing requirements for cryptocurrency exchanges operating within the country. This regulatory approach seeks to enhance oversight and ensure compliance within the rapidly evolving financial landscape.