The Ministry of Finance has just issued Circular 77/2025/TT-BTC detailing services in the field of securities trading and securities transfers as prescribed in Decree 181/2025/ND-CP dated July 1, 2025 of the Government, detailing the implementation of a number of articles of the Law on Value Added Tax in 2024.
According to the Circular, a series of services in the securities sector are not subject to value added tax according to Point c, Clause 4, Article 4 of Decree 181/2025/ND-CP, including:
(1) Securities brokers at securities companies; take the trust of managing securities trading accounts of individual investors, managing securities trading accounts, online securities trading services, services for customers borrowing money to buy securities, services for advancing securities for selling at securities companies; securities trading services, online connection services, services for using terminal equipment at the securities Trading Department; securities loans and lending services, securities deposits, clearing, settlement of securities transactions, handling errors after transactions, managing deposit assets, managing positions at depositors, clearing members, Vietnam Securities Corporation and subsidiaries; paying principal, interest, repaying bonds, buying bonds, bonds, bonds, government bonds, government bonds, government bonds, government bonds, government bonds, government bonds.
(2) Self-trading in securities at a securities company; investing, contributing capital, issuing, offering financial products, secured securities; trading to create a market.
(3) Securities issuance guarantee, services associated with securities issuance guarantee business as prescribed in Clause 3, Article 86 of the 2019 Securities Law and shown on the securities issuance guarantee contract.
(4) Stock investment consulting.
(5) Management of stock investment funds.
(6) Management of stock investment portfolios.
