Crypto Tax in Ireland: Beginner's Overview 2026

Crypto tax is one of the most searched topics among Irish crypto holders — and one of the most misunderstood. Many beginners assume that because crypto feels different from traditional investments, it might be treated differently by Revenue. It is not. Revenue has clear rules on how crypto is taxed and from 2026, exchanges are legally required to share your transaction data with them automatically.

This guide gives you a plain English overview of Irish crypto tax rules — what is taxable, what is not, how much you owe, when to pay, and how to report it. This is a beginner overview, not professional tax advice. For complex situations, always consult a qualified Irish tax adviser.

How Revenue Treats Crypto

Revenue does not treat cryptocurrency as a currency. It treats it as a capital asset — similar to shares, property, or any other investment asset. This single fact determines almost everything about how crypto is taxed in Ireland.

Because crypto is an asset rather than a currency, the tax rules that apply are those for capital gains — specifically Capital Gains Tax (CGT) at 33%. When you make a profit from an asset, you pay CGT on that profit. When you sell crypto for more than you paid, that profit is taxable.

This also means that the rules are surprisingly straightforward for most casual investors. If you bought Bitcoin, held it, and eventually sold it for a profit — you calculate the gain and pay 33% on anything above €1,270.

What Is and Is Not a Taxable Event

Understanding what triggers a tax liability is the most important thing to get right. Many beginners are surprised to discover that swapping between cryptocurrencies is taxable, not just selling to euros.

Capital Gains Tax — The Basics

Capital Gains Tax in Ireland is charged at a flat rate of 33% on gains above the annual exemption. There is no progressive rate — the same 33% applies whether your gain is €2,000 or €200,000.

The €1,270 annual exemption

Every individual in Ireland has an annual CGT exemption of €1,270. The first €1,270 of net gains in any tax year is completely exempt from CGT. This exemption cannot be carried forward — if you do not use it in a given year, it is lost. It also cannot be transferred to a spouse (though spouses each have their own €1,270 exemption).

How to calculate your gain

Your taxable gain is simply: Sale proceeds minus your original cost. You can also deduct allowable expenses such as trading fees paid when buying and selling. The resulting figure — after the €1,270 exemption — is your taxable gain, and you pay 33% on that amount.

Losses reduce your tax bill

If you sold any crypto at a loss in the same year, those losses can be offset against your gains before calculating the tax owed. Only the net gain is taxed. Unused losses can also be carried forward to future years indefinitely.

Worked Example

In this example, the investor made a profit of €4,440 after fees, used the €1,270 exemption, and owes €1,046 in CGT to Revenue. This must be paid by 15 December 2026 (as the gain was made before December) and declared on the annual tax return by 31 October 2027.

When Income Tax Applies Instead

Not all crypto income is subject to CGT. Some types of crypto activity are treated as income rather than capital gains, and are taxed at your normal income tax rate — either 20% or 40% depending on your total earnings.

• Staking rewards: Treated as income on the day you receive them, at the euro value on that date. When you later sell those staking rewards, any additional gain is subject to CGT using the receipt value as your cost basis.
• Mining income: If you mine crypto as a business, the coins are treated as income on receipt at market value.
• Salary paid in crypto: If your employer pays you in crypto, it is treated as employment income. PAYE applies and your employer should deduct it accordingly.
• Freelance or service income in crypto: If you receive crypto as payment for work or services, it is treated as self-employment income at the euro value on the date received.
• Airdrops: Generally treated as income when received, particularly if you provided a service or met criteria to receive them.

Using Losses to Reduce Your Tax Bill

Crypto losses are not just bad news — they are a legitimate tax tool. Revenue allows you to use capital losses to reduce your CGT liability in several ways:

• Same-year offset: Losses in the current tax year are offset against gains in the same year before CGT is calculated.
• Carry forward: If your losses exceed your gains in a given year, the surplus losses carry forward indefinitely to offset future gains.
• You must declare losses. Even if you made no gain and owe no tax, you should declare losses on your tax return to preserve your ability to use them in future years.

Key Dates and Deadlines

How to Report to Revenue

How you report depends on whether you are a PAYE worker or self-employed:

PAYE workers

File a Form CG1 through Revenue's MyAccount portal at myaccount.revenue.ie. This is a straightforward form that asks for details of your disposals, the proceeds, the original cost, and any losses. If your only income is PAYE employment and your only additional tax obligation is CGT from crypto, this is all you need.

Self-employed individuals

Report crypto gains on your Form 11 through Revenue Online Services (ROS). Crypto CGT is included in the capital gains section of the return alongside any other asset disposals.

What information you need to provide

• Description of the asset (e.g. Bitcoin, Ethereum)
• Date of acquisition and disposal
• Proceeds received in euros
• Original cost in euros (including purchase fees)
• Any allowable expenses (trading fees, etc.)
• Resulting gain or loss

What Records to Keep

Good record keeping is the foundation of crypto tax compliance. Revenue requires records to be kept for at least six years. Here is what to save for every transaction:

• Date of every purchase and sale
• The amount of crypto involved
• The euro value at the time of the transaction
• The exchange or platform used
• Transaction fees paid
• Wallet addresses involved

Frequently Asked Questions