Ireland

Ireland's Revenue Commissioners have issued clear guidance classifying cryptocurrency as a chargeable asset for Capital Gains Tax purposes. The position is straightforward and well-documented: every disposal of cryptocurrency triggers a CGT event, the rate is a flat 33%, and the annual personal exemption of €1,270 applies. Income events — staking, mining, employment in crypto — are subject to income tax, USC, and PRSI. Revenue has confirmed that crypto-to-crypto swaps are taxable disposals. DAC8 exchange reporting is active from 2026. Ireland's 33% CGT rate is among the highest flat rates in the EU, making it an objectively expensive jurisdiction for active crypto investors.

Core Tax Treatment

All disposals of cryptocurrency — selling for fiat, swapping for another token, spending on goods or services, or gifting above the small gift exemption — are chargeable disposals for CGT. The gain is calculated as disposal proceeds minus acquisition cost (in euros at the date of acquisition), and the FIFO method applies. The flat rate is 33% on net gains after the annual €1,270 personal exemption. There is no holding period benefit — an asset held for 10 years is taxed at the same 33% as one held for 10 days.

CGT Rate and Annual Exemption

The €1,270 annual CGT exemption applies to the net of all chargeable gains and losses in the tax year. It is not per-asset or per-transaction. For investors whose net annual crypto gains are below this threshold, no CGT is payable and no return is required for CGT purposes. For gains above the threshold, the full gain minus €1,270 is taxable at 33%. The exemption cannot be carried forward if unused.

Payment Deadlines — A Critical Distinction

Ireland's CGT payment deadlines are split across the year, and missing them triggers interest charges. Gains realised between 1 January and 30 November must be paid by 15 December of the same year. Gains realised in December must be paid by 31 January of the following year. This is administratively demanding — it requires mid-year calculations rather than a single year-end assessment. The return filing deadline (Form CG1 or Form 11) is 31 October of the following year, but the tax payment itself is due well before then.

Interest accrues at 0.0219% per day on late CGT payments. For a €50,000 gain at 33%, a six-month payment delay costs approximately €800 in interest alone. Investors who realise significant gains mid-year should calendar the December 15 payment deadline immediately.

Income Events

Staking rewards, mining income, DeFi lending interest, and employment remuneration in cryptocurrency are all subject to income tax at 20–40%, plus the Universal Social Charge (USC) at 0.5–8%, plus PRSI contributions where applicable. The combined marginal rate on employment income can reach approximately 52% for high earners. Income events are declared in the annual income tax return (Form 11 for self-assessed individuals) alongside CGT disposals. The receipt of staking or mining tokens creates an income tax liability at receipt; any subsequent gain on disposal of those tokens is subject to CGT.

Cost Basis and FIFO

Ireland uses FIFO for calculating the cost basis of crypto disposals. Unlike the UK's Section 104 pooling method, Irish tax law does not require averaging across a pooled holding — each acquisition lot is matched on a first-in-first-out basis. This can produce different results from the UK method for the same portfolio and the same disposals. Per-lot acquisition records in euros, including the date and euro value at acquisition, must be maintained.

Loss Relief

Losses from crypto disposals can be offset against gains from crypto or other chargeable assets in the same tax year. Unused losses can be carried forward indefinitely to offset future gains. Losses cannot be used to reduce income tax, USC, or PRSI — they are CGT-only. Taxpayers with embedded losses in underperforming positions should consider realising them to offset taxable gains before year-end.

Reporting

CGT disposals are reported on Form CG1 (for taxpayers not otherwise self-assessed) or within Form 11 (for self-assessed individuals). The filing deadline is 31 October. Revenue's DAC8 exchange data from 2026 provides automated transaction reporting from EU-licensed platforms. Revenue has confirmed it is treating crypto compliance as a priority area.