Vietnam has introduced a 0.1 percent tax on crypto transactions as it seeks to move more trading onto licensed local platforms under a new market pilot, The Business Times reported.

Circular 32 applies a 0.1 percent personal income tax on each crypto transaction by individuals, regardless of residency from 27 March.

Foreign organisations trading through licensed service providers in Vietnam will face a similar 0.1 percent corporate tax on transaction value.

Domestic companies earning income from crypto transfers, as well as local firms providing crypto-related services, will be taxed at 20 percent on profits after deducting costs and related expenses.

Crypto…