Ministry of Finance proposes 0.1% tax on each transfer transaction of gold bars

In the draft Law on Personal Income Tax to be submitted to the National Assembly, the Ministry of Finance has proposed a tax rate for gold bar transactions, expected to be 0.1% of the transfer price each time.

The tax rate for gold bar transactions is expected to be 0.1% of the transfer price each time.

At the regular press conference of the Ministry of Finance for the third quarter of 2025 on the afternoon of October 3, Mr. Luu Duc Huy, Deputy Director of the Department of Management and Supervision of Tax, Fee and Charge Policies (Ministry of Finance) said that in the draft Law on Personal Income Tax to be submitted to the National Assembly, there is a proposal on the tax rate for gold bar transactions, expected to be 0.1% of the transfer price each time.

According to Mr. Luu Duc Huy, after discussing and reaching an agreement with the State Bank, the Ministry of Finance has submitted to the Government a draft Law on Personal Income Tax in the direction of collecting personal income tax on gold bar transactions, not applying it to gold jewelry and raw materials. The time of application and how to adjust the tax will be submitted to the National Assembly in the direction of assigning the Government to regulate.

The representative of the Ministry of Finance also said that there are currently different tax rates for different types of gold such as gold bars, raw gold, jewelry gold, etc.

According to Mr. Luu Duc Huy, the import tax on gold bars is 0%; for gold jewelry, the Ministry of Finance has consulted with Government members and expects the export tax rate to be 0% in the coming time. As for gold trading in general, value added tax is currently applied using the direct method.

Regarding tax policy on income from gold trading, the representative of the Department of Management and Supervision of Tax, Fees and Charges explained to businesses that it will be applied according to the Law on Corporate Income Tax. However, for individuals, trading in gold bars is not allowed because it is a conditional business activity. Therefore, it is not possible to apply income tax to individuals from gold trading activities.

Regarding taxes on business households, Deputy Director of the Tax Department Mai Son said that recently, the tax authority has had its own action program to promote modern tax management for the private economic sector, including business households.

Accordingly, the goal from January 1, 2026, all business households after conversion will fully and effectively implement legal policies. To achieve this goal, the Tax Department has implemented many solutions such as the Law on Tax Administration has many contents aimed at maximum convenience for business households; focusing on connecting and sharing data to ensure that business households can make declarations in the simplest and most convenient way.

In the fourth quarter, the tax sector will continue to strengthen propaganda and support for taxpayers. In addition to the 44,000 business households that have already implemented it, in the past 9 months, more than 98,000 business households have converted and over 2,000 households have converted to enterprises.

Basically, business households are in high agreement that the policy from the central to local levels is to build a simple and easy-to-apply accounting system.

Regarding policy institutions, the tax sector focuses on solutions to support the development of common software, creating conditions for business households to choose and integrate into the national tax management system. Tax authorities also review and remove documents that are no longer appropriate, in order to create fairness and transparency in production and business activities of this sector.

According to VNA

Source: https://baohaiphong.vn/bo-tai-chinh-de-xuat-thue-0-1-voi-giao-dich-chuyen-nhuong-tung-lan-doi-voi-vang-mieng-522530.html