If you have an account with a European digital currency exchange, it's likely Revenue already has your data. Yes - Revenue can track crypto and their recently updated guidance shows they're making crypto tax a focus for 2022. : Welcome to your Irish cryptocurrency tax guide! Can Revenue track crypto? 15 February 2022: Updated to include proposed EU directive. 24 August 2022: Updated with new Revenue guidance. At Koinly we keep a very close eye on Revenue's crypto policies and regularly update this guide to keep you informed and tax compliant. One last thing before we start - Revenue guidance on crypto tax is always being updated. Meanwhile, for transactions subject to Capital Gains Tax, there is a flat rate of 33%.
For transactions subject to Income Tax, you'll pay Income Tax at either 20% or 40% depending on which Income Tax band you fall into. The amount of tax you'll pay on crypto depends on the specific transaction you've made, the tax that applies and how much you earn. How much tax do you pay on crypto in Ireland?
As well as this, Corporation Tax may apply for companies dealing in cryptocurrency transactions and in some specific circumstances, Capital Acquisitions Tax may also apply to crypto. The Revenue Commissioners, or just Revenue, is clear that crypto in Ireland is subject to Income Tax and Capital Gains Tax. Wondering how much tax you'll pay on crypto in Ireland? Our Ireland crypto tax guide covers everything you need to know, including crypto Capital Gains Tax, Income Tax, Gift Tax, how to calculate and report your crypto taxes to Revenue and even how to help you avoid paying tax on crypto ahead of the 31st of October tax deadline! Do you have to pay tax on cryptocurrency in Ireland? How to avoid paying tax on cryptocurrency in Ireland What records do Revenue want for crypto taxes? How to calculate your crypto taxes with Koinly Which transactions are subject to Capital Acquisition Tax? Which transactions are subject to Income Tax? Which transactions are subject to Capital Gains Tax? Margin trading, derivatives and other CFDs Do you have to pay tax on cryptocurrency in Ireland?
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