The amended Personal Income Tax Law of 2025 has officially expanded the scope of taxable income, including for the first time income arising from the transfer of gold bars. This is considered a significant adjustment in gold market management policy, directly impacting the hoarding and trading behavior of precious metals by the public from mid-2026 onwards.
Taxable subjects and scope of application
According to the new regulations, personal income tax obligations do not apply indiscriminately to all types of gold, but are clearly defined for each product group, specifically:
- This applies only to gold bars: Personal income tax only arises when an individual transfers gold bars that meet the standards set by the State Bank of Vietnam.
- Excluding gold jewelry and gold rings: Transactions involving the purchase and sale of gold jewelry, plain gold rings, gold handicrafts, or processed gold for personal consumption are not subject to personal income tax.
- Regardless of profit or loss: Tax is calculated directly on the selling price, not based on the difference between the purchase and sale prices. Therefore, even if gold bars are sold at a price lower than the cost price, individuals still incur tax liability if the transaction is subject to tax.
This regulation reflects a management approach based on cash flow and transaction value, rather than net income like other types of investment income.
How to determine the amount of tax payable when selling gold bars.
Unlike income from real estate or securities transfers, the tax on gold bars is set at a fixed rate on revenue, simplifying declaration and management.
Tax calculation formula:
|
Personal income tax payable = Selling price of gold bars x 0.1% |
To help visualize the personal income tax liability when transferring gold bars, the table below illustrates the tax payable corresponding to some common transaction values at a tax rate of 0.1% on the selling price.
| Selling price | Tax rate | Amount of tax payable |
| 200,000,000 VND | 0.1% | 200,000 VND |
| 400,000,000 VND | 0.1% | 400,000 VND |
| 600,000,000 VND | 0.1% | 600,000 VND |
| 800,000,000 VND | 0.1% | 800,000 VND |
As can be seen from the table above, with a tax rate of 0.1% calculated directly on the selling price, the personal income tax on gold bars is not significant, but people still need to be aware of their obligation to declare and pay taxes correctly to avoid legal risks when conducting transactions of large value.
Taxable transaction threshold and execution time
One new feature that brings transparency to the market is that the government is empowered to set the threshold for taxable transactions, aiming to tightly manage gold trading activities and help curb speculation in gold. Specifically:
- Transactions below the prescribed threshold: If the total value of gold bar sales is lower than the threshold set by the Government, individuals are not required to pay personal income tax.
- Tax collection commencement date: Although the Law takes effect from July 1, 2026, actual tax collection will only be implemented after the Government's guiding Decree comes into effect.
Note: The state is not permitted to collect or reclaim funds before this date.
Objectives of managing and regulating the gold market.
According to the direction of the Government and the State Bank, the taxation of gold bars is not simply aimed at increasing budget revenue, but focuses on long-term goals:
- Transparency in the trading of gold bars.
- Restrict large-scale speculation and hoarding of gold.
- Regulating capital flows in the economy and reducing pressure from the "gold hoarding" phenomenon.
- Increase the State's regulatory role in the gold market.
The law also allows the Government to adjust the 0.1% tax rate in stages, in accordance with the macroeconomic situation and national monetary policy.
Recommendations for the public when trading gold bars.
To avoid legal risks and tax evasion errors, individuals should:
- Conduct the buying and selling of gold bars at credit institutions or businesses licensed by the State Bank of Vietnam;
- Keep complete records of transactions;
- Keep track of decrees and circulars providing detailed guidance on tax declaration, deduction, and payment.
Contact information MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- Email: man@man.net.vn
Content production by: Mr. Le Hoang Tuyen – Founder & CEO MAN – Master Accountant Network, Vietnamese CPA Auditor with over 30 years of experience in Accounting, Auditing and Financial Consulting.
Source:
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Personal Income Tax Law 2025
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Policy on managing the gold market
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Article by LuatVietnam
