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 to the National Assembly a draft Law on Personal Income Tax (amended). Particularly for income from the transfer of digital assets and gold bars, the draft Law proposes to apply a tax rate of 0.1% on the transfer price of each transaction as for current securities transfers.

According to the provisions of the law on gold trading and the law on investment, gold bar trading is a conditional business activity, only for enterprises and credit institutions licensed by the State Bank; buying and selling gold bars without a license is a violation of the law.

Therefore, individuals are not allowed to trade in gold bars. The buying and selling of gold bars by individuals that generates income is determined as other income (not income from business).

Based on the opinions of the National Assembly Standing Committee and the review opinions of the National Assembly's Economic and Financial Committee, the draft supplementary Law assigns the Government to specifically regulate the taxable gold bar value threshold, in order to eliminate cases where individuals buy and sell gold for the purpose of saving and storing (not for business purposes), in accordance with people's habit of buying and storing gold.

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