Q&A: Guidelines on Tax Declaration, Withholding, Payment, and Finalization in the Crypto Asset Market in Vietnam

1) Who are the subjects performing tax declaration, withholding, payment, and finalization in the crypto asset market?

They are organizations and individuals involved in activities in the crypto asset market according to Resolution No. 05/2025/NQ-CP on the pilot implementation of the crypto asset market in Vietnam.

2) What types of taxes must be declared and paid?

Organizations providing crypto asset services as prescribed in Clause 3, Article 3 of Resolution No. 05/2025/NQ-CP (hereinafter referred to as Service Providers), organizations established and operating under the laws of Vietnam, which perform trading, transfer, and business activities of crypto assets in the Vietnamese crypto asset market, shall perform tax declaration, payment, and finalization as follows:

a) Declaration and payment of Value Added Tax (VAT)

Service Providers and organizations established and operating under the laws of Vietnam having activities prescribed in Clause 2, Article 3 of Circular No. 32/2026/TT-BTC guiding VAT, CIT, and Personal Income Tax (PIT) for trading, transfer, and business of crypto assets shall perform VAT declaration and payment as follows:

• VAT declaration dossiers shall comply with the provisions in Section 2 - Appendix I: List of tax declaration dossiers issued with Decree No. 126/2020/ND-CP detailing a number of articles of the Law on Tax Administration, as amended and supplemented by Decree No. 373/2025/ND-CP.

• Tax declaration forms shall follow the templates in Section II: VAT declaration forms - Appendix II issued with Circular No. 80/2021/TT-BTC and Circular No. 40/2025/TT-BTC regarding the decentralization of local government authority.

b) Declaration, payment, and finalization of Corporate Income Tax (CIT)

• CIT declaration dossiers shall comply with Section 7 - Appendix I issued with Decree No. 126/2020/ND-CP, as amended by Decree No. 373/2025/ND-CP.

• Tax declaration forms shall follow Section VI - Appendix II issued with Circular No. 80/2021/TT-BTC, as amended by Circular No. 40/2025/TT-BTC, Circular No. 94/2025/TT-BTC, and Circular No. 21/2026/TT-BTC.

• Service Providers and domestic organizations must determine the quarterly provisional tax amount to pay into the state budget as prescribed in Clause 6, Article 8 of Decree No. 126/2020/ND-CP (amended by Decree No. 91/2022/ND-CP). Provisionally paid CIT shall be deducted from the CIT payable according to the annual tax finalization. No later than the last day of the 3rd month from the end of the calendar year or fiscal year, the entities must submit the annual tax finalization dossier.

3) What is the deadline for tax declaration and payment?

The deadline for submitting tax declaration dossiers and the deadline for tax payment shall comply with the provisions of Chapter IV and Chapter VI of the Law on Tax Administration No. 38/2019/QH14 and its guiding documents.

4) Who is responsible for declaring and paying taxes for foreign organizations and individuals arising from crypto asset transfer transactions?

• Service Providers are responsible for withholding and paying tax on behalf of the arising CIT for each crypto asset transfer transaction performed by foreign organizations through the Service Provider; and withholding and paying tax on behalf of the arising PIT for each crypto asset transfer transaction performed by individuals (including residents and non-residents) through the Service Provider.

• Timing of withholding and determining the tax amount to be withheld: a) Timing: Service Providers shall perform withholding at the time of successful confirmation of the crypto asset transfer transaction. b) Amount: The CIT and PIT amounts to be withheld are determined according to the rates prescribed in Clause 3, Article 4, and Article 5 of Circular No. 32/2026/TT-BTC.

• Declaration and payment of withheld tax: a) Service Providers shall declare withheld tax on a monthly basis. b) Dossiers include: Tax withholding declaration form (Form No. 01/TSMH) and detailed list of withheld tax (Form No. 01-1/BK-TSMH) issued with this Circular. c) Method and Deadline: Submit dossiers electronically. The deadline is no later than the 20th day of the month following the month in which the tax obligation arises. The tax payment deadline is the last day of the dossier submission period.

• The direct managing tax authority of the Service Provider shall be decided by the Director of the Tax Department.

5) What are the responsibilities of Crypto Asset Service Providers?

• Perform tax withholding, declare, and pay the withheld tax accurately and fully based on information provided by foreign organizations and individuals; be legally responsible for the accuracy and completeness of tax dossiers.

• Manage investor accounts; accurately store transaction and transfer data for each transaction, along with information and documents related to determining the amount of tax to be withheld.

• Issue tax withholding certificates for crypto asset transfer activities (Form No. 01/CTKT-TSMH) annually via electronic methods to taxpayers.

• Build and operate IT systems and manage crypto asset transaction data to ensure extraction, annual aggregation, and data conversion into formats compatible with the tax authority's management system.

• Provide full and timely dossiers, documents, and data related to crypto asset transfer activities through the Service Provider upon request by the tax authority in accordance with the law.