HANOI, March 30 (Xinhua) -- Vietnam's Ministry of Finance has issued a circular on tax obligations in crypto asset trading, imposing a 0.1 percent tax on the value of each crypto asset transaction for both domestic and foreign, as well as resident and non-resident, investors, local media outlet VnEconomy reported Monday.
Meanwhile, corporate investors earning income from crypto asset transfers will be subject to corporate income tax at a standard rate of 20 percent, while foreign institutional investors transferring crypto assets through service providers will pay tax at a rate of 0.1 percent on each deal.
The transfer and trading of crypto assets are not subject to value-added tax, the report added.
The regulation took effect on March 27 and will apply during the implementation period of Vietnam's crypto asset pilot program, or until official tax regulations for the sector are issued, according to the report. ■