Proposal to impose 0.1% personal income tax on gold bar and digital asset transactions

VTV.vn - The Government proposes a 0.1% personal income tax on gold bar and digital asset transactions.

The government has just submitted a draft amendment to the Law on Personal Income Tax to the National Assembly . Specifically for income from the transfer of digital assets and gold bars, the draft law proposes applying a tax rate of 0.1% on the transfer price for each transaction, similar to the current rate for securities transfers.

According to the laws on gold trading and investment, trading in gold bars is a conditional business activity, only permitted for enterprises and credit institutions licensed by the State Bank of Vietnam; trading in gold bars without a license is a violation of the law.

Therefore, individuals are not allowed to trade gold bars; any income generated from buying or selling gold bars by individuals is considered other income (not income from trading).

Based on feedback from the Standing Committee of the National Assembly and the review by the National Assembly's Economic and Financial Committee, the draft Law adds a provision assigning the Government the authority to specify the tax threshold for gold bars, aiming to exclude individuals who buy and sell gold for savings and safekeeping purposes (not for business purposes), in line with the people's custom of buying and hoarding gold.

Source: https://vtv.vn/de-xuat-danh-thue-thu-nhap-ca-nhan-01-voi-giao-dich-vang-mieng-tai-san-so-100251027145351248.htm