The Ministry of Finance said on June 30 that it had issued a statement clarifying recent reports alleging that gold bar trading would be subject to a 0.1 percent personal income tax under the revised Personal Income Tax Law from July 1, 2026. The ministry said such interpretations are incorrect.
Under the amended Personal Income Tax Law, which was passed by the 15th National Assembly at its 10th session and takes effect on July 1, 2026, income from gold bar transfers is classified as taxable income.
However, the law assigns the Government responsibility for determining the taxable threshold for gold bar transactions, the timing of implementation, and adjustments to tax rates in line with the roadmap for managing the gold market.
Regarding draft decrees detailing the implementation of the law, the Ministry of Finance said it has submitted reports and proposals to the Government explaining and clarifying feedback from cabinet members.
The ministry added that it has proposed not to specify tax collection for gold bar transfers in the current draft decree, stressing the need for a more comprehensive legal framework governing taxation and management of gold trading activities.
The Ministry of Finance is currently coordinating with the State Bank of Vietnam and relevant agencies to draft a government decree on tax policy and tax administration for gold trading activities.
The proposed framework is expected to cover value-added tax (VAT), corporate income tax, and personal income tax, including tax on gold bar transfers, applicable to different types of businesses and individuals. It will also take into account transactions conducted on exchanges if any, ensuring consistency with related legal regulations and the planned establishment of a gold trading exchange.
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