If you’ve sold, swapped, or spent crypto in Ireland, chances are you owe Capital Gains Tax (CGT). While buying and holding digital assets isn’t taxed, disposing of them in any way can trigger a taxable event—and failing to report it could lead to serious penalties. That’s why every crypto investor in Ireland needs to understand how CGT works and when it applies.
The Revenue Commissioners treat cryptocurrencies as assets, not currency. So when you make a profit from disposing of your crypto, that profit is subject to CGT, just like selling shares or property. Fortunately, there are clear rules, exemptions, and tools available to help you calculate and file your taxes correctly.
In this guide, we break down the Capital Gains Tax rules for crypto users in Ireland, how to calculate your gains, report them properly, and use losses or exemptions to lower your tax bill.
What Is Capital Gains Tax on Crypto in Ireland?
Capital Gains Tax (CGT) is charged when you make a profit from selling or disposing of an asset—this includes cryptocurrency. In Ireland, Revenue treats crypto as property, meaning you’ll owe CGT if you sell, trade, or gift it and make a gain.
The current CGT rate is 33%, and it applies to the profit, not the total value of the transaction. So if you sell crypto for more than you paid, only the difference is taxed. This rule applies to individuals, not companies or traders taxed under different structures.
Read More: Crypto Tax in Ireland
What Crypto Transactions Are Subject to Capital Gains Tax in Ireland?
Not every crypto transaction is taxable, but several common actions can trigger Capital Gains Tax in Ireland. If you’re disposing of your crypto in any form, you may owe CGT. Below are the key scenarios where this tax applies.
Selling Crypto for Fiat Currency
If you sell your crypto for euros or any other fiat currency, the profit you make from that sale is considered a capital gain. This is the most straightforward example of a disposal, and it must be reported to Revenue in the same way you would report gains from stocks.
Swapping One Crypto for Another
When you exchange Bitcoin for Ethereum or any other crypto-to-crypto trade, it’s still seen as a disposal. Even though you haven’t cashed out to fiat, Revenue treats the trade as if you sold one asset and bought another, making it subject to CGT.
Spending Crypto on Goods or Services
Using crypto to pay for products or services is also a disposal. You must calculate the gain or loss based on the difference between the market value of the crypto at the time of spending and your original acquisition cost. This applies even for small purchases.
Gifting Crypto to Someone (Except a Spouse or Civil Partner)
Gifting crypto to a friend, child, or relative other than your spouse or civil partner also triggers CGT. Revenue views this as a disposal at the asset’s market value on the date of the gift. If a gain is realised, it must be included in your return.
How to Calculate Capital Gains on Crypto?
Calculating your capital gain is not as simple as subtracting one number from another. Since most investors make multiple transactions across various dates, it’s important to understand how to accurately determine acquisition costs, disposal values, and allowable deductions. Here’s how to break it down.
Determine the Acquisition Cost
Your acquisition cost includes the price you paid to purchase the crypto plus any transaction fees or charges. If you received the asset through a trade or reward, use its fair market value in euros on the date of acquisition. Accurate records of when and how you acquired each unit are essential for this step.
Calculate the Disposal Value
The disposal value is the fair market price of your crypto at the time you sell, trade, or gift it. This is usually the price you receive in fiat or the EUR value of what you get in return. The difference between this and your acquisition cost is your capital gain or loss.
Deduct Allowable Expenses
Certain costs can be deducted when calculating your gain, including trading fees, exchange commissions, and blockchain gas fees. These expenses directly related to the acquisition or disposal can reduce your taxable gain. Make sure to maintain proof of all expenses in your records.
Apply the Capital Gains Formula
To calculate your gain or loss:
Capital Gain/Loss = Disposal Value – (Acquisition Cost + Allowable Expenses) |
If the result is positive, you have a gain subject to CGT. If it’s negative, you may be able to offset that loss against future gains.
Use the Annual Exemption
Every Irish taxpayer is entitled to a CGT exemption of €1,270 per year. This means that if your total gains are below this threshold, you won’t owe any CGT. If your gains exceed the exemption, only the amount above €1,270 is subject to the 33% tax rate.
Read More: Crypto Accounting Methods in 2025
How to Report and Pay Capital Gains Tax on Crypto in Ireland?
Paying Capital Gains Tax in Ireland isn’t just about calculating what you owe—it also requires timely reporting through the correct forms and meeting Revenue’s deadlines. Failing to follow this process accurately can result in penalties, even if your calculations are correct.
Determine If You Need to File CG1 or Form 11
If crypto gains are your only source of non-PAYE income and you’re not registered for self-assessment, you’ll likely use Form CG1 to report them. This form is submitted annually and covers all capital gains made during the tax year.
If you’re self-employed, a landlord, or already registered for self-assessment, you’ll need to use Form 11 instead. It includes a section for reporting capital gains from crypto alongside your other income sources.
Know the Relevant Payment Deadlines
CGT must be paid in two instalments, depending on when your disposal occurred:
- 15 December: For disposals made between 1 January and 30 November.
- 31 January of the following year: For disposals made in December.
For example, if you sold crypto in September 2025, your CGT must be paid by 15 December 2025. If you sold in December 2025, your payment is due by 31 January 2026.
How to Make the Payment?
Payments can be made online through Revenue’s myAccount or ROS (Revenue Online Service) portals. Once logged in, navigate to the “Payments” section and select the Capital Gains Tax option. Enter your calculated tax amount and complete the transaction securely using a bank card or direct debit.
Keep Records to Support Your Filing
Revenue recommends maintaining detailed records of all crypto acquisitions, disposals, and associated costs for at least 6 years. This includes wallet addresses, exchange reports, transaction IDs, euro-equivalent values, and any fees paid. These records are essential in case Revenue initiates a review or audit.
Offsetting Losses Against Crypto Capital Gains
A capital loss occurs when you dispose of your crypto for less than what you paid to acquire it. This includes selling at a lower price, swapping into a lesser-valued asset, or disposing of worthless tokens. The key point is that the disposal must be complete and verifiable, with proper records of original cost and sale value in EUR.
How to Report Crypto Losses to Revenue?
To use a capital loss to reduce your CGT bill, it must be officially reported. You should declare the loss in Form CG1 if you’re not self-assessed, or within the Capital Gains section of Form 11 if you’re registered for self-assessment. Without this declaration, Revenue will not acknowledge the loss for offsetting purposes.
Offsetting Losses Against Gains
Once reported, your losses can be directly offset against your taxable gains in the same tax year. For example, if you made €2,000 in gains but also had €1,000 in losses, you’ll only be taxed on the net €1,000 gain. This reduces your CGT liability significantly.
Carrying Forward Unused Losses
If your losses exceed your gains for the year, the remaining loss doesn’t go to waste. It can be carried forward to offset gains in future tax years. This helps smooth out the tax impact over time, especially during volatile market cycles.
Transferring Losses to a Spouse or Civil Partner
Irish tax law allows you to transfer unused allowable losses to your spouse or civil partner. These can then be used to reduce their CGT liability. However, this only applies if both partners are jointly filing or if the recipient has capital gains in the same year.
The Four-Week Rule Exception
Be cautious of Revenue’s anti-avoidance provision. If you acquire and dispose of the same type of crypto within a four-week window, losses on that transaction may not be used to offset other gains—unless the gains came from a similar short-term trade. This rule prevents investors from deliberately creating losses to lower their tax bill.
CGT Rules for Long-Term Holders and Frequent Traders
Crypto users in Ireland fall into different categories depending on how they engage with digital assets. Whether you’re holding for the long term or actively trading, your tax treatment under CGT may vary. Understanding how Revenue views your activity can help you stay compliant and optimise your filing strategy.
Capital Gains for Long-Term Investors
If you buy and hold crypto without frequently disposing of it, you’ll generally fall under the Capital Gains Tax regime. CGT is only triggered when you eventually sell, trade, or spend your crypto. Until then, no tax is due, even if the value increases significantly. This allows long-term investors to defer their tax liability until a disposal occurs, giving more time to plan for efficient reporting.
Frequent Trading May Be Seen as Business Activity
If you’re trading crypto regularly—such as buying and selling multiple times a week or running a systematic strategy—Revenue may classify your activity as a business. In such cases, profits may be subject to Income Tax, not CGT. Income Tax rates are much higher (up to 40% plus USC and PRSI), and trading losses can’t be carried forward as capital losses.
When Does Revenue Consider You a Trader?
There’s no fixed rule, but Revenue may look at factors such as frequency of trades, scale of activity, and whether your trades resemble a business operation. If your crypto dealings are organised, continuous, and profit-driven, you may be required to report under Income Tax rules instead of CGT—even if you’re an individual and not a company.
How KoinX Helps You Calculate and Report Crypto CGT in Ireland
Ireland’s CGT rules on crypto can be time-consuming, especially when juggling multiple wallets, exchanges, and transaction types. KoinX simplifies the process by automatically calculating your gains, tracking your portfolio, and generating compliant reports in minutes.
Automated CGT Calculations
KoinX tracks your entire transaction history across integrated platforms and applies the Irish Capital Gains Tax rules automatically. It calculates your disposal values, acquisition costs, and applies the €1,270 exemption, ensuring accurate results without the stress of manual spreadsheets.
Exchange and Wallet Integrations
With support for over 300 exchanges, wallets, and blockchains, KoinX seamlessly syncs your crypto data in one place. Whether you’re trading on centralised platforms or holding assets in DeFi wallets, every taxable event is captured accurately.
Accurate Reporting Formats
KoinX generates detailed tax reports that align with Irish filing requirements. Whether you need data for Form CG1 or Form 11, it prepares clean, formatted summaries for capital gains, losses, and deductible fees—saving you time at year-end.
Audit-Ready Records
All transactions are stored securely with timestamps, euro valuations, and expense details. This makes your crypto records fully audit-ready in case Revenue ever asks for documentation. KoinX helps you stay organised and compliant long-term.
From tracking trades to submitting reports, KoinX is your all-in-one solution for stress-free crypto tax filing in Ireland. Get started with KoinX today to calculate and report your CGT with ease.
Conclusion
Understanding Capital Gains Tax is essential for any crypto user in Ireland. From one-time sellers to frequent traders, knowing when CGT applies and how to calculate it accurately helps you avoid costly penalties. By keeping detailed records and making timely submissions, you can stay compliant with Revenue and manage your tax liability with confidence.
If you’re looking for a simpler way to track, calculate, and file your crypto CGT, KoinX is the tool built for the Irish tax system. With automated calculations, seamless integrations, and audit-ready reports, it’s never been easier to stay on top of your crypto taxes. Sign up for KoinX today and file smarter, not harder.
Frequently Asked Questions
Do I Owe CGT If I Receive Crypto as a Gift?
No, receiving crypto as a gift does not trigger Capital Gains Tax for the recipient. However, you may be liable for Capital Acquisitions Tax (CAT) depending on the value of the gift and your relationship to the giver. The giver, on the other hand, may need to report CGT if the gift was made to someone other than a spouse or civil partner.
Do I Pay CGT If I Donate Crypto to a Registered Charity?
If you donate crypto directly to an Irish Revenue-recognised charity, you may not be liable for CGT. To qualify, the charity must be approved under Section 848A of the Taxes Consolidation Act. Keep clear records of the donation value and recipient status to support the exemption in your tax return.
Can I Claim CGT Exemption for Crypto Under Retirement Relief?
No, crypto assets are not currently eligible for Retirement Relief in Ireland. This relief typically applies to business assets, such as shares in family companies or farming assets. As Revenue treats crypto as personal property and not a qualifying business asset, crypto disposals do not fall under this exemption.
Do I Need to Report Crypto Held on Cold Wallets for CGT?
You only need to report crypto held in cold wallets when a disposal occurs—such as selling, swapping, or gifting the asset. Simply holding crypto in cold storage is not a taxable event. However, it’s important to maintain proper records of acquisition and potential disposal values to support future CGT filings.
Can I Pay CGT in Installments If I Can’t Afford It?
Revenue may consider instalment arrangements in cases of financial difficulty, but approval is not automatic. You’ll need to contact them directly and provide financial documentation. Interest charges may apply, and it’s still essential to file your return on time, even if full payment can’t be made immediately.
