Applying personal income tax to cryptocurrency, how much can be collected each year?

The Ministry of Finance has proposed taxing digital asset and cryptocurrency transactions in the draft Law on Personal Income Tax (replacement).

In the draft Personal Income Tax Law (replacement), the Ministry of Finance proposed to add some taxable income. This agency said that along with the development of socio-economic life and new forms of business activities, some other incomes of individuals have arisen in addition to the prescribed taxable incomes. These are specific incomes such as the right to transfer assets, transfer of Internet domain names, transfer of auctioned car license plates, digital asset transactions (virtual assets, encrypted assets)...

The Ministry of Finance proposes to collect personal income tax on digital asset and cryptocurrency transactions at 0.1% of the transfer price like current securities.

PHOTO: DAO NGOC THACH

Income from the transfer of assets and property rights is similar in nature to some irregular income (current income) that is subject to personal income tax such as income from royalties, franchises, etc.

Therefore, the Ministry of Finance proposes that personal income tax on other income be calculated by multiplying taxable income by the tax rate of 5%. In the above cases, the income tax rate is determined as 5% of the taxable income, that is, the part exceeding VND 10 million of each transaction. This rate is equivalent to the tax currently applied to copyright or franchise.

Particularly for income from transferring digital assets (virtual assets, encrypted assets...) on a transparently managed trading floor, with public prices and regular frequency, this agency proposes to apply a tax rate of 0.1% on the transfer price of each transaction as for current securities transfers.

Previously, Vietnam did not have clear legal regulations on digital assets and digital asset trading activities. However, the Law on Digital Technology Industry, issued by the National Assembly in June and effective from the beginning of 2026, has stipulated that digital assets are assets under current civil law. This shows that trading digital assets and digital currencies in Vietnam on transparently managed exchanges is officially allowed.

According to estimates by organizations, in 2022, the value of digital asset and cryptocurrency transactions in Vietnam will reach about 120 billion USD, putting our country in the group of countries with the most vibrant activities in the world . If a transaction tax of 0.1% is applied, similar to the fee levied on securities transactions, Vietnam can collect more than 100 million USD in taxes each year thanks to the huge volume of cryptocurrency transactions.

Source: https://thanhnien.vn/ap-thue-thu-nhap-ca-nhan-voi-tien-so-moi-nam-co-the-thu-bao-nhieu-185250726213315353.htm