Circular 32/2026/TT-BTC guiding VAT, corporate income tax and personal income tax for transactions, transfers and trading of crypto assets

Circular 32/2026/TT-BTC, issued by the Ministry of Finance on 27 March 2026, guides value-added tax (VAT), corporate income tax, and personal income tax on transactions, transfers, and trading of crypto assets (tai san ma hoa). It implements Resolution 05/2025/NQ-CP, which launched a pilot crypto-asset market in Vietnam, and draws its authority from the 2025 Corporate Income Tax Law (67/2025/QH15), the VAT Law as amended, and the personal income tax law and its implementing decrees. It applies to all organizations and individuals within that pilot scope. The tax rules are the calc-relevant core. On VAT, the transfer and trading of crypto assets is not subject to VAT; other related activities follow the general VAT law. On corporate income tax, an investor that is an organization established under Vietnamese law and earning income from transferring crypto assets is taxed at the standard 20 percent rate, except for the special cases in Article 10(2) and 10(3) of the Corporate Income Tax Law. For such organizations, taxable income from a transfer in the period equals the crypto-asset sale price minus the purchase price of the transferred assets minus related transfer costs that are supported by lawful invoices and documents. Organizations providing crypto-asset services under Resolution 05/2025 are likewise taxed at 20 percent on that service income. An investor that is a foreign-law organization transferring crypto assets through a Vietnamese crypto-asset service provider is taxed at 0.1 percent on the transfer turnover of each transaction. On personal income tax, an individual investor, whether resident or non-resident, who transfers crypto assets through a crypto-asset service provider is subject to personal income tax at 0.1 percent on the transfer price of each transaction. This mirrors the flat per-transaction levy used for securities transfers and is the figure most relevant to a personal-finance or tax calculator: a flat 0.1 percent of gross transfer value per trade, not a tax on net gain. The timing of revenue and income recognition for crypto-asset transfers follows the rules used for securities transfers under the corporate and personal income tax laws, together with the law on crypto assets. The circular takes effect on 27 March 2026 and runs for the duration of the pilot defined in Resolution 05/2025, or until a permanent crypto-asset tax policy is issued. Matters it does not address fall back to existing tax law. The circular is signed by Deputy Minister Cao Anh Tuan.