HCMC – Vietnam will begin imposing a personal income tax on gold bar transactions from July 1, 2026, following the National Assembly’s approval of the amended Personal Income Tax Law on December 10.
Under the new regulation, income from transferring gold bars will be subject to a 0.1% tax rate for each transaction.
The law authorizes the Government to set the taxable value threshold, determine when the tax will be applied, and adjust the tax rate in line with the roadmap for managing the gold market.
Ahead of the vote, Minister of Finance Nguyen Van Thang presented a report addressing concerns raised by lawmakers. Some deputies cautioned that taxing gold transfers could create complications for individuals who buy and sell gold not for speculation but for traditional saving purposes. Others urged the drafting agency to clearly differentiate between short-term speculative gold investments and long-term accumulation, proposing a suitable tax mechanism that curbs market volatility without burdening ordinary savers.
According to the Government, the proposal to tax gold bar transfers underwent extensive review, including comparisons with international practices and assessments of current gold market conditions. The aim is to balance market oversight with practical implementation and secure broad public consensus.
The Government noted that assigning authority to define the taxable threshold helps exempt individuals who buy gold for savings or personal reserves—an entrenched practice among many Vietnamese households. This also provides a legal basis for determining tax collection timing, applicable value ranges, and future tax adjustments as gold market management evolves.
Given the wide impact of the new rule, policymakers view the measure as a necessary step toward stabilizing the economy and tightening oversight of gold trading activities. The tax is also expected to discourage excessive speculation and channel more idle capital into productive sectors of the economy.
The revised Personal Income Tax Law will take effect on July 1, 2026.
