Revenue treats cryptocurrency (Bitcoin, Ethereum, and all other crypto assets) as a chargeable asset for CGT purposes. This means any profit on disposal is subject to the 33% CGT rate.
Selling crypto for fiat currency, exchanging one crypto for another, using crypto to pay for goods or services, and gifting crypto. Each of these is a disposal that triggers a potential CGT liability.
The first EUR 1,270 of gains in a year is exempt. Beyond that, you pay 33%.
Crypto gains must be reported on your annual tax return (Form 11 or Form CG1). Payment dates follow the standard CGT schedule: 15 December for gains arising January to November, 31 January for December gains.
Revenue expects detailed records of all crypto transactions: date, type of transaction (buy, sell, swap, receive), the crypto asset involved, the quantity, the value in EUR at the time of the transaction, any fees paid, and the exchange or platform used. Most exchanges provide downloadable transaction histories.
Paul bought 1 Bitcoin in 2021 for EUR 30,000 and sold it in 2026 for EUR 85,000. Gain: EUR 85,000 - EUR 30,000 = EUR 55,000. Less annual exemption: EUR 55,000 - EUR 1,270 = EUR 53,730. CGT at 33%: EUR 17,730.90.
If Paul also swapped 5 ETH for 0.2 BTC during the year, that swap is a separate disposal of the ETH. He needs to calculate the gain on the ETH disposal separately.
Revenue has not issued specific guidance on DeFi yields, staking rewards, or airdrops, but the general principle is clear: if you receive value, it is taxable. Staking rewards are likely income (taxed at your marginal rate). Airdrops may be treated as income or as a gift (potentially subject to CAT if from a known party). The area is evolving, so keep detailed records and consider professional advice for complex DeFi activity.
If you sell crypto at a loss, the loss can be offset against other chargeable gains in the same year or carried forward to offset future gains. You cannot offset crypto losses against income.
Disclaimer: This information reflects the 2026 tax year. Tax rules change annually following the Budget. Check Revenue.ie for the latest rates and thresholds. This guide is for informational purposes only and does not constitute tax advice.