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Trading Insight_DN
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🔥 The Tax Department has removed the content of a 0.1% deduction on revenue from the transfer of each transaction - Meaning the removal of the 0.1% tax on each transaction deviation.
Some key points that the new circular from the Tax Department has introduced, everyone needs to refer to.
1. Currently, there will be no tax on each order, but tax will be assessed based on "profit" or the withholding-substitution mechanism.
Explanation: The Direct Tax Withholding or Substitution mechanism means that the platform where we trade will directly withhold and pay taxes on behalf of everyone. Similar to current securities.
- One benefit is... if international platforms like Binance can meet this requirement, the possibility of operating will not be without opportunity.
2. The tax does not care about the nationality of the person. Transactions within the area according to the "residence" category can be understood as... if you are a Vietnamese or a foreigner residing for more than 183 days/year = a resident individual will still have to pay tax related to income like Vietnamese people.
3. Regarding the Law - Regulations, currently the "specific decree" is still being surveyed, commented on, and developed.
This information is quite positive. Especially bringing Crypto from the "gray" investment area to be more transparent. The tax collection will also be better balanced when profits are made, while losses can be ignored or offset. This area is a significant income source that has not yet been taxed. So this is also a positive signal to have additional revenue for our country and also more reassuring information for investors or communities like us. Awesome!
Do you find this news... quite okay and smooth? :)))
Some key points that the new circular from the Tax Department has introduced, everyone needs to refer to.
1. Currently, there will be no tax on each order, but tax will be assessed based on "profit" or the withholding-substitution mechanism.
Explanation: The Direct Tax Withholding or Substitution mechanism means that the platform where we trade will directly withhold and pay taxes on behalf of everyone. Similar to current securities.
- One benefit is... if international platforms like Binance can meet this requirement, the possibility of operating will not be without opportunity.
2. The tax does not care about the nationality of the person. Transactions within the area according to the "residence" category can be understood as... if you are a Vietnamese or a foreigner residing for more than 183 days/year = a resident individual will still have to pay tax related to income like Vietnamese people.
3. Regarding the Law - Regulations, currently the "specific decree" is still being surveyed, commented on, and developed.
This information is quite positive. Especially bringing Crypto from the "gray" investment area to be more transparent. The tax collection will also be better balanced when profits are made, while losses can be ignored or offset. This area is a significant income source that has not yet been taxed. So this is also a positive signal to have additional revenue for our country and also more reassuring information for investors or communities like us. Awesome!
Do you find this news... quite okay and smooth? :)))
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.