Crypto Taxes in Ireland 2026: The Complete Guide

Dominic Willcock

Modified on: Wed, 29 Apr, 2026 at 1:58 PM

Unsure how crypto is taxed in Ireland? The rules differ from many EU countries. This guide explains when taxes apply, which rates are used, and how to stay compliant.

Key Takeaways

Crypto disposals are subject to Capital Gains Tax (CGT) at 33%
No distinction between long-term and short-term holdings
Income from crypto activities is taxed at 20–40% + USC + PRSI
FIFO (First In, First Out) is the most commonly used method
Annual CGT exemption: €1,270 per person
Losses can be offset and carried forward
Transaction fees are tax-deductible

Taxation for Private Investors

Holding crypto as an investment means disposals are generally taxed under CGT at 33% on net gains.
There is no holding period exemption, meaning gains are taxable regardless of how long the asset was held.

FIFO is typically used, meaning the earliest acquired assets are treated as sold first.

When Are Crypto Gains Taxable?

Taxable Disposals

The following events trigger CGT:

Selling crypto for fiat (e.g. EUR)
Swapping crypto (e.g. BTC → ETH, NFTs, stablecoins)
Paying for goods or services with crypto

Non-Taxable Events

Holding crypto
Transfers between your own wallets or exchanges

Gifts – Special Rule

Crypto gifts are treated as disposals at €0 value.
The recipient also receives a €0 cost basis for future disposals.

FIFO Example

While there is no specifically mandated tax method, FIFO is the most commonly used approach in Ireland. This means that the cryptocurrencies acquired first are considered disposed of first.

An investor buys:

1 BTC for €10,000 (January 2025)
1 BTC for €25,000 (March 2025)

If 1 BTC is sold for €30,000 (June 2025):

Cost basis = €10,000 (first purchase)
Gain = €20,000 (€30,000 -€10,000)

Allowances and Losses

Annual CGT Exemption

€1,270 per person per year
Applies after prior losses are used
Cannot be carried forward

Loss Treatment

Offset against gains in the same year
Carry forward if unused

Tax Impact on Crypto Income

In addition to CGT on disposals, income derived from crypto activities is subject to Income Tax at rates of 20–40%, plus USC (Universal Social Charge) and PRSI, depending on total income levels. This applies to mining, staking, DeFi and airdrops.

Activity	When Received	When Later Sold
Staking	Income Tax on EUR value at receipt	CGT on gain above income value
DeFi Yield	Income Tax when entitled / credited	CGT on subsequent disposal
Airdrops (with action)	Income Tax on EUR value at receipt	CGT on gain above income value
Airdrops (no action)	Often treated as income; debated	CGT on gain above receipt value
Mining	Income Tax on EUR value when mined	CGT on gain above income value

Staking Example

When rewards are received: The EUR market value of staking rewards at the time they are credited is treated as taxable income (Income tax).

When rewards are later sold or swapped: The disposal triggers CGT. The cost basis equals the EUR value that was already taxed as income. CGT is due only on any additional gain (sale price minus value at time of income).

If staking rewards are disposed of at a loss, this loss can be used to offset gains in the current or future years.

DeFi Income (Lending, Liquidity Mining, Yield Farming)

Where returns resemble interest or yield on capital, they are generally treated as taxable income at the time the user becomes entitled to them or they are credited.

Any later sale or swap of the tokens received (interest tokens, LP tokens, etc.) constitutes a separate CGT disposal.

Different DeFi models can be structurally complex. The general principle is: income-like streams → Income Tax; disposals of assets → CGT.

Airdrop Taxation

Airdrops with required action → Income Tax at receipt
Pure airdrops (no action) → often still treated as income in practice
Later sale → CGT applies

Mining Taxation

Rewards taxed as income at market value when received
Later disposal → CGT on additional gains

Professional / Commercial Trading

If trading resembles a business (high frequency, structured, profit-driven):

Profits may be taxed under Income Tax or Corporation Tax rules

Deductibility of Fees

Transaction fees are deductible as they are incurred "wholly, exclusively and necessarily for the purposes of trade." Fees can be added to the cost basis of the acquired asset or deducted from the disposal proceeds, reducing the chargeable gain.

Tax Year, Filing and Payment Deadlines

The Irish tax year is the calendar year (1 January to 31 December). Crypto CGT and crypto income must be reported in the annual Income Tax Return.

CGT Payment Deadlines – Important Split!

Ireland has an unusual two-part CGT payment system:

Period	Payment Deadline
Gains from 1 Jan – 30 Nov 20	Before 15 December 20
Gains from 1 Dec – 31 Dec 2025	By 31 January 2026

Filing the Return

The annual Capital Gains return (e.g. for 2025) must be filed before October 2026, either on a Form 11 or CG1.
Individuals in self-assessment file via Form 11 online through ROS (Revenue Online Service). The filing deadline is typically 15 November following the end of the tax year (extended from the traditional 31 October deadline for online filing).
PAYE employees with capital gains from crypto make their payment on the Revenue portal and submit a CG1 form.

Ireland Crypto Tax at a Glance

Category	Details
CGT Rate	33% on net chargeable gains
Holding Period Benefit	None – no speculation period
Annual CGT Exemption	€1,270 per individual per year
Income Tax Rate	20–40% plus USC and PRSI
Tax Method	FIFO (most commonly used)
Loss Treatment	Offset against gains; carry forward unlimited
Tax Year	Calendar year (1 Jan – 31 Dec)
Filing Method	Form 11 (ROS) or CG1
Filing Deadline	15 November (online) / October for CG1
CGT Payment (Jan–Nov)	15 December same year
CGT Payment (December)	31 January following year
Corporation Tax	12.5% trading rate
Fees	Deductible

Disclaimer

This guide is for informational purposes only and does not constitute tax, legal, or financial advice. Tax regulations may change. For individual advice, consult a qualified tax professional.

English