In this research, Material Flow Analysis using Markov Matrix is applied to assess the performance of the Extended Producer Responsibility (EPR) system in case of electronic waste (e-waste) in Vietnam. The Cathode Ray Tube Television (CRT TV) is selected to be research objective due to its popular and the high volume of hazardous waste among the home appliances. It is found that the recent benefit that obtained from recycling process which is mainly by dismantling is very small (1.5 – 5 USD/unit), since the most valuable materials can be recovered are copper with small amount, and then following by iron and plastic. The other. Materials are disposed or illegally exported such as the CRT glass, printed circuit board (PCB), Brominated Flame retardant (BFR). Considering that the cost of hazardous waste treatment is not put into account, it is found that when the EPR system comes into effect, the CRT TV will be ignored by all stakeholders. The situation can be changed only when a proper technology that can recover value from hazardous waste is developed in Vietnam.