🇻🇳 Vietnam税务

越南股市创历史最大单日跌幅：油价飙升与地缘风险触发税务与资本合规关注

来源：SSC · VnExpress Vietnam发布：2026/3/10

作者：东南亚合规中心编辑团队

TL;DR · 核心要点

2026年3月9日，越南VN-Index单日暴跌115点（超6%），创历史最大跌幅，主因中东地缘冲突推高油价、引发全球流动性紧缩及本地融资压力。关键合规信息包括：（1）外资连续5个交易日净卖出，累计抛售3480亿越南盾（1320万美元），需关注越南证券登记结算公司（VSD）对跨境资金流动的申报要求；（2）保证金追缴激增，券商须按越南国家证券委员会（SSC）第79/2023/TT-BTC号通函实时监控客户担保品覆盖率；（3）油价暴涨致燃料进口成本激增，企业需重新评估增值税（VAT）进项抵扣合理性及转移定价文档更新义务。该事件将加剧越南财政部（MOF）对资本利得、股息预提税及关联交易税务风险的稽查强度，尤其影响在越上市科技、地产及能源类中资企业。

✅ 合规行动清单 · Compliance Checklist

›立即核查2026年第一季度关联交易转让定价文档是否涵盖油价波动对利润水平的影响，并于2026年4月30日前向越南税务局（GDT）提交补充说明
›若为外资证券账户持有者，须在3个工作日内向越南证券登记结算公司（VSD）补报2026年3月9日当日大额净卖出交易的最终资金流向证明
›审查2026年2–3月燃油类进项增值税抵扣凭证，确保符合越南财政部第219/2013/TT-BTC号通函关于异常价格交易的合理性举证要求

›Review and update 2026 Q1 transfer pricing documentation to reflect oil-driven margin pressure; submit explanatory note to GDT by April 30, 2026
›Foreign investors who net-sold >VND50 billion on March 9 must file transaction flow evidence with VSD within 3 business days
›Reassess fuel-related VAT input credits from Feb–Mar 2026 against MOF Circular 219/2013/TT-BTC’s abnormal pricing justification requirements

English Summary

On March 9, 2026, Vietnam’s VN-Index plunged 115 points—the largest single-day drop in history—triggered by surging oil prices and Middle East tensions. While the article is market-focused, it carries critical tax and capital compliance implications: foreign investors were net sellers for five consecutive sessions (VND348 billion), requiring adherence to State Securities Commission (SSC) and State Bank of Vietnam (SBV) reporting rules for cross-border equity transactions; margin call spikes implicate SSC Circular 79/2023/TT-BTC on collateral monitoring; and sharp commodity price inflation may trigger MOF scrutiny of VAT input claims, transfer pricing documentation, and dividend withholding tax (10% for non-treaty residents). Affected entities include foreign-invested enterprises (FIEs), listed Vietnamese corporations with foreign shareholders, and securities firms. No new tax law was enacted, but heightened enforcement is expected. Businesses must review Q1 2026 transfer pricing files and confirm VAT recovery positions before April 30, 2026.

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常见问题解答

这次股市暴跌是否会导致越南上调资本利得税？+

截至2026年3月，越南尚未宣布或立法提高资本利得税。现行规定下，非居民企业转让越南上市公司股票所得暂免征税（依据越南《企业所得税法》第14条及越新/越韩等税收协定），但税务机关正加强对此类免税交易的实质经营与受益所有人审查。

外资连续5天净卖出，是否触发越南外汇管制申报义务？+

是。根据越南国家银行（SBV）第19/2021/TT-NHNN号通知，单笔或5日内累计跨境证券投资资金汇出超50万美元，须通过授权商业银行向SBV事前备案并提供资金来源证明。

保证金强制平仓导致亏损，能否在越南企业所得税前扣除？+

可以，但需满足三项条件：（1）损失发生于经SSC许可的合法证券交易；（2）取得券商出具的强制平仓书面证明；（3）在年度企业所得税申报表（Form 03/TNDN）附表中专项列示并附交易流水。

油价暴涨导致进口成本上升，是否需要调整对关联方的销售价格？+

是。越南转让定价法规要求关联交易价格符合独立交易原则（ALP）。若原油成本上涨30%以上且未同步调整下游产品售价，可能被GDT认定为利润转移，建议在2026年4月前完成可比性分析更新并留存备查。

VHM和FPT被外资大幅抛售，中国股东是否面临新的预提税风险？+

不新增税种，但风险升级：若中国股东通过避税地中间实体持股，越南税务局可能援引《反避税条款》（Decree 132/2020/ND-CP第12条）否定税收协定优惠，将股息预提税率从7.5%恢复至10%。

相关关键词

Vietnam tax complianceVN-Index crashforeign investment Vietnammargin call regulation Vietnamtransfer pricing Vietnam

📄 官方原文参考（英文）点击展开

Stocks post largest dip in history - VnExpress International The most read Vietnamese newspaper Follow us on Edition: International | Vietnamese Home News Politics Education Environment Traffic Crime Brainteaser Business DataSpeaks Property Billionaires Markets Companies Economy Money Quiz Tech Tech news Enterprises Personalities Vietnam innovation Challenge hub Travel Places Food Guide Visa Puzzle Life Trend Arts Celebrities Vogue Love Wellness Sports Football Boxing Marathon Tennis Golf Other sports Trivia World Perspectives Readers' Views VnE-GO Premium Contact Us © Copyright 1997 VnExpress.net. All rights reserved. Go Business DataSpeaks Property Billionaires Companies Markets Economy Money Quiz Copy link Stocks post largest dip in history Detail Summary Stocks post largest dip in history By Staff reporters &nbsp MAR. 9, 2026 Vietnam's benchmark VN-Index closed 115 points lower Monday, the largest decline ever recorded, as investors offloaded their assets in droves amid geopolitical uncertainties and surging oil prices. Oldest Latest Featured Has news updated Vietnam's benchmark VN-Index started the day in the red, following the development of geopolitical tension in the Middle East in over the weekend.Panic selling and margin calls sent the index down more than 6% as of 9.50 a.m., a drop comparable to April 6 last year when U.S. President Donald Trump announced reciprocal tariffs on most nations."In addition to the impact of interest-rate pressure, the market is also facing risks related to inflation, exports, financial volatility and supply chain disruptions," an MBS analyst said.Tyler Nguyen Manh Dung, Senior Director of Market Strategy Research at HSC Securities, said a sudden surge in margin calls from securities firms was the main reason the market corrected by more than 100 points. He also predicted further declines Tuesday due to weak buying force.All 30 stocks of the VN-30 basket closed with a drop, with 24 of them hitting floor prices, including major tickers such as FPT of tech giant FPT Corporation, gas, MSN of conglomerate Masan Group, and VIC of private conglomerate Vingroup.Foreign investors were net sellers for the fifth straight session, selling VND348 billion ($13.2 million) worth of stocks, mostly VHM of property giant Vinhomes and FPT.Asian markets suffered a similar fate as the inflationary jolt from surging oil prices threatened to raise living costs and interest rates across the globe, while investors desperate for liquidity fled to the U.S. dollar, Reuters reported.Brent crude soared 27% to $117.58 a barrel, the biggest daily gain since at least 1988, which came on top of a 28% rise last week. U.S. crude shot up a staggering 28% to $116.51, promising to push petrol prices quickly skyward.The news was sobering for Japan, a major importer of oil and gas, knocking the Nikkei down 7.0% on top of a 5.5% drop last week.South Korea's high-flying market fell closer to Earth with a drop of 8.2%, having already shed more than 10% last week.China is another big oil importer, though it also has a huge stockpile of crude; its blue-chip index fell 1.7%. View main events Comments (0) Latest first | Highest rated Latest first Highest rated View more 20/1000 0/1000 Read more Gold prices trim morning losses Dollar gains over dong Gold prices drop Vietnam fuel prices hit highest since 2022 as Middle East conflict chokes oil supply Southeast Asian currencies weaken as oil prices surge amid escalating Middle East tensions