How is cryptocurrency taxed in Ireland — income tax on receipts and CGT on disposal?

Ireland's Revenue treats cryptocurrency as an asset subject to CGT on disposal, and as income when received as payment or earned through certain activities.

When you sell, swap, or otherwise dispose of cryptocurrency, any gain is subject to CGT at 33%. The gain is the disposal proceeds minus the acquisition cost (adjusted for allowable expenses and indexation, where applicable). Each individual has a €1,270 annual CGT exemption. Losses can offset gains within the same year or be carried forward.

Crypto received as income — such as payment for services, staking rewards, mining proceeds, or airdrops where something was given in return — is treated as income and subject to income tax at 20% or 40%, plus USC and PRSI, at the market value on the date of receipt.

Crypto-to-crypto swaps are taxable disposals. Transferring between your own wallets is not a disposal. Revenue issued comprehensive guidance on crypto in 2022, and taxpayers are expected to keep detailed records of all transactions, including the euro value at the time of each transaction.