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Taxation of Cryptocurrency Transactions

  • Ireland
  • General


The Irish Revenue Commissioners (Irish Revenue) have recently published guidance in relation to the Irish tax treatment of various transactions involving cryptocurrencies, such as Bitcoin, Litecoin and Ripple.

The guidance discusses the direct tax treatment of cryptocurrencies, including whether income received from activities involving cryptocurrencies is taxable as an income or capital receipt. Irish Revenue also outlines the VAT implications of cryptocurrencies, such as where the consideration for the supply of goods/services is in the form of cryptocurrency, and the VAT treatment of the exchange of cryptocurrency and cryptocurrency mining activities. The guidance also addresses the relevant payroll tax treatment here employees are paid in cryptocurrency and the valuation of cryptocurrencies generally. The Irish Revenue guidance can be accessed here .

If you would like any further information in relation to the Irish tax treatment of cryptocurrency transactions, please feel free to contact a member of our Tax Group.

This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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