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Will Income From Cryptocurrency Be Taxed In Vietnam?

February 24, 2022

Cryptocurrency trading is not new and attracts a lot of participants. However, there is currently lacking of a full legal framework to recognize the cryptocurrency whether as an asset or goods and thus can be traded under Vietnam regulations. According to the Article 105 of the 2015 Civil Code: “1. Property is objects, money, valuable papers and property rights. 2. Property includes real estate and movable property. Real estate and movables may be present and property formed in the future”. Whilst the Article 3 of the Commercial Law 2005 indicates: “Goods include all types of movable property, including movable property formed in the future; things attached to the land”.

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AUTHOR

Thuan is an experienced tax and accounting adviser with over 15 years of work experience. He has advised on the tax implications of large construction and engineering projects, major acquisitions, and on several highly publicized real estate developments in Vietnam, Cambodia, Laos, and Myanmar. Thuan has assisted property funds with their divestiture in Vietnam and advised multinationals on their corporate restructuring projects. He oversaw the team that reorganized the supply chain for a cosmetic multinational in Vietnam, including customs duty aspects. He specializes in corporate tax strategies for multinationals, banks and investment funds.
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