Ireland Cryptocurrency Tax 2025 — CGT Treatment & Reporting

No special crypto rules

Revenue's position, set out in Tax and Duty Manual Part 02-01-03, is explicit: "there are no special tax rules for cryptocurrencies or crypto-assets." Existing Income Tax, Capital Gains Tax (CGT), Corporation Tax, Capital Acquisitions Tax (CAT) and VAT rules apply to crypto transactions in exactly the same way they apply to any other asset. Which tax applies depends on what you actually did with the crypto, not on the fact that it happens to be crypto.

When it's Capital Gains Tax

If you are holding crypto as an investment, disposing of it — selling for euro, swapping one token for another, spending it on goods or services, or gifting it to someone other than a spouse or civil partner — is a disposal for CGT purposes, taxed at the standard 33% rate on the gain. The annual €1,270 exempt amount applies in the ordinary way, and losses on one crypto disposal can be set against gains on another in the same year, or carried forward if unused.

Token-for-token swaps are the disposal people miss most. Exchanging bitcoin for ether is a disposal of the bitcoin at its euro market value on the day, even though no euro ever reaches your bank account — the tax liability can exist before you hold any currency to pay it.

When it's Income Tax instead

Where crypto activity amounts to trading — running a business of buying and selling, or being paid in crypto for services, mining, or staking — the receipt is taxed as income, not as a capital gain. Revenue's guidance treats whether the activity is "an investment" or "a trade" as the deciding factor: profits from trading are taxed under Income Tax (or Corporation Tax for a company) at your marginal rate, while investment gains fall under CGT. Once income tax has been charged on the value of crypto received, CGT applies only to any further increase in value between receipt and a later disposal.

Gifts and inheritance

Crypto-assets received as a gift or inheritance can trigger Capital Acquisitions Tax in the recipient's hands, valued at the euro market value on the date of the gift or the date of death (the valuation date). CAT operates on the same group thresholds and 33% rate as any other gift or inheritance — there is no separate crypto threshold.

Records Revenue expects

Because there is no dedicated crypto return, the burden is on the taxpayer to keep enough detail to reconstruct every transaction: the date of each acquisition and disposal, the type and quantity of the asset, its euro value at the time (from a reputable exchange rate source), the euro cost of acquisition, and any fees. An individual with a CGT liability must file a CGT return (Form CG1, or the CGT panel of Form 11) even where trading through a foreign exchange that issues no Irish tax documentation.

What changed for 2026

From 1 January 2026, crypto-asset service providers operating under the EU's DAC8/Crypto-Asset Reporting Framework (CARF) rules must collect identifying information from their Irish users and report reportable transactions to Revenue, with the first returns due by 31 May 2027. The practical effect mirrors the UK's parallel regime: an exchange no longer reporting your activity is increasingly not something to rely on.

FAQ

Q: I only ever swap tokens and never cash out to euro. Do I still owe tax? A: Yes, if you are holding as an investment. Swapping one cryptoasset for a different one is a disposal of the first asset at its euro value on the day, regardless of whether you convert to euro at any point.

Q: Are staking rewards taxed when I receive them or when I sell them? A: Generally when received, as income, at their euro value on that date. CGT then applies only to any further gain between receipt and a later disposal.

Q: Is there a crypto-specific CGT exemption? A: No. Crypto disposals use the same €1,270 annual exempt amount and 33% rate as any other chargeable asset — there is no separate allowance or rate band for crypto.

Sources

Figures verified against Revenue guidance as of 30 July 2026:

• Revenue Tax and Duty Manual Part 02-01-03, "Taxation of crypto-assets" (no special rules; Income Tax, CGT, Corporation Tax, CAT and VAT applied by ordinary principles; trading-vs-investment test; record-keeping)
• Revenue — "Cryptocurrencies and crypto-assets" (Companies and charities) (confirms no dedicated cryptocurrency legislation)
• Revenue — Crypto-Asset Reporting Framework (CARF) / DAC8 guidance (reporting from 1 January 2026, first returns due 31 May 2027)
• Revenue — "What is Capital Gains Tax?" (33% rate, €1,270 annual exempt amount, applied identically to crypto disposals)