Official Letter No. 2759/CST-GTGT dated 26 December 2025 issued by the Department for Tax, Fee and Charge Policy Management and Supervision regarding tax policies applicable to enterprises’ foreign currency selling activities
In the case of manufacturing, trading, or service enterprises in the ordinary course of business (i.e. entities that are not credit institutions or licensed foreign-exchange trading agents) which earn foreign-currency revenue from overseas sources (such as export of goods, provision of services, or receipt of payments in foreign currency) and subsequently sell (convert) such foreign currency into Vietnamese Dong through commercial banks:
- Any foreign exchange gain or loss arising from exchange rate differences is not subject to value-added tax (VAT) and no invoice is required, as such activity does not constitute the sale of goods or the provision of services; and
- Income derived from foreign currency selling activities shall be determined and treated in accordance with the Corporate Income Tax (CIT) regulations in force at the time the income arises.
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