Personal income tax is not yet levied on transactions involving gold bars.

In its comments on the draft Decree guiding the Law on Personal Income Tax, the State Bank of Vietnam proposed collecting personal income tax on income from the transfer of gold bars, except for cases where individuals buy and sell gold for savings and storage purposes, not for business purposes, and in accordance with the people's custom of hoarding gold.

According to the State Bank of Vietnam, the Personal Income Tax Law No. 109/2025/QH15 dated December 10, 2025, stipulates that income from the transfer of gold bars will be taxed at a rate of 0.1% on the transfer price for each transaction.

At the same time, this law also assigns the Government the authority to regulate the collection of taxes on the transfer of gold bars, including the taxable value threshold, the time of application, and the appropriate tax rate in accordance with the roadmap for managing the gold market. The law takes effect from July 1st.

However, after reviewing the draft Decree guiding the implementation of the Personal Income Tax Law, the State Bank of Vietnam found that there are currently no specific regulations guiding the transfer of gold bars.

Therefore, supplementing the guidelines is necessary to institutionalize the directives of competent authorities, contributing to the transparency of the gold market and improving the effectiveness of state management. This proposal is made in the context of the complex fluctuations in domestic gold prices recently due to the influence of world gold prices, which pose a potential risk of speculation and hoarding.

In response to the above opinion, the Ministry of Finance stated that the Personal Income Tax Law stipulates that the Government decides the tax threshold for gold bars, the time of application, and the adjustment of the personal income tax rate on the transfer of gold bars in accordance with the roadmap for managing the gold market.

This regulation aims to ensure that the Government has a legal basis to decide on tax collection as well as specific related matters when the conditions for managing the gold market meet the requirements for management and tax collection.

According to the Ministry of Finance, the State Bank of Vietnam is coordinating with other ministries and agencies to develop a plan for establishing a gold exchange to submit to the Government.

After this plan is approved by the Government, the ministries and agencies will have a basis to finalize the regulations related to the management of the gold market.

Only when these regulations are in place will there be a basis to submit a proposal to the Government regarding the application of personal income tax policy to the transfer of gold by individuals.

Therefore, the draft Decree does not yet specify in detail the tax collection for the transfer of gold bars.

Source: https://vtcnews.vn/chua-danh-thue-thu-nhap-ca-nhan-khi-giao-dich-vang-mieng-ar1021462.html