How crypto tax works in Ireland
Revenue treats crypto as property, so selling for euros, swapping tokens, spending coins, or gifting outside a spouse is normally a CGT disposal at 33% above the EUR 1,270 annual exemption.
Dealing-scale activity is taxed as trading income with Income Tax, USC, and PRSI instead, while employer-paid tokens face payroll taxes and gifted or inherited coins can trigger CAT.
Exchanging crypto for fiat as principal is VAT-exempt financial services treatment, goods bought with crypto carry normal VAT on the euro value, and mining sits generally outside VAT scope.
Tax rates at a glance
- Capital gains tax
- 33%
- Annual exemption
- EUR 1,270
- Trading income
- Up to 52%
- Employer-paid tokens
- Payroll taxes
- Gifts and inheritances
- CAT
- Token exchange VAT
- Exempt
Who benefits most
These profiles tend to benefit most when the rules match their real residence, payroll and business setup.
Long-term holdersExpatsFreelancers paid in cryptoFoundersCross-border investors
Watch out for
- Non-domiciled residents face a situs trap: cloud-based tokens with no provable non-Irish location default to Irish taxation on residence grounds.
- Losses only help when claimed correctly and carried within CGT rules, so unharvested down years cannot shelter salary or trading income.
- Staking yields, airdrops, and DeFi returns need income-versus-capital characterisation first, because the 33% CGT answer only covers true disposals.
- Six-year record retention covers wallets, exchanges, and private keys documentation, which casual app-only histories rarely satisfy.
Frequently asked questions
How is crypto taxed in Ireland?
Most disposals face 33% Capital Gains Tax above a EUR 1,270 annual exemption. Trading-scale activity is taxed as income with USC and PRSI, and gifts or inheritances can trigger CAT.
Is swapping crypto for euros subject to VAT?
No. Revenue follows the Hedqvist principle: exchanging tokens for currency as principal is VAT-exempt financial services treatment, though goods bought with crypto carry normal VAT.
Do non-domiciled residents get remittance treatment on crypto?
Only where the asset is situated outside Ireland, which tokens on the cloud often fail. Gains with unprovable situs are taxed on residence, so non-doms need specific advice.