- Accepting crypto does not change when revenue is recognized or how taxable profit is calculated. Accounts for tax must be in euros or the company’s functional currency, not in crypto.
- A company pays corporation tax of 12.5% on trading income and 25% on non-trading income, such as investment income. Gains outside a trade are calculated under CGT rules.
- Exchanging bitcoin for money is exempt from VAT when the business acts as principal. If a customer pays in crypto, VAT is due as usual on the euro value; the standard rate is 23% in 2026. Mining is generally outside the scope of VAT.
- A business that provides crypto services needs a MiCA license and, since 2026, reports customer data to Revenue (DAC8).
This page covers companies and self-employed people in Ireland that hold, accept or earn crypto. Private individuals are on personal tax, and company deadlines on filing and deadlines. It is general information, not tax advice.
Crypto in the accounts
Revenue says that for businesses which accept payment in crypto, “there is no change to when revenue is recognised or how taxable profits are calculated”. The profits and losses of a company’s crypto transactions go through its accounts and, if they arise from a trade, are taxed under the normal corporation tax rules.
Section 402 of the Taxes Consolidation Act 1997 lets a company prepare its accounts in its functional currency. Revenue says most cryptocurrencies are not a functional currency as defined, so “accounts, for tax purposes, cannot be prepared in cryptocurrencies”: they must be in euros or another functional currency. A sole trader who makes a trading profit or loss on crypto shows it in the accounts and pays income tax under the normal rules. Revenue notes that loss relief can be restricted for personal trades with low activity (passive trades).
If a profit or loss on crypto is not part of a trade, CGT rules apply. For a company this means corporation tax on chargeable gains, with the gain calculated under CGT rules.
Corporation tax rates
| Type of profit (2026) | Corporation tax rate |
|---|---|
| Trading income | 12.5% |
| Non-trading income, such as rental and investment income, and income from an excepted trade | 25% |
| Chargeable gains | Calculated under CGT rules |
Whether a company’s crypto activity is a trade is a question of fact, judged as for trading in shares. Corporation tax is charged on the profits of an accounting period of no more than 12 months. Irish-resident companies pay it on their worldwide profits. Budget 2027 changed rules for large groups (Pillar Two) and for preliminary tax but did not change these rates.
VAT on crypto
Exchanging crypto for money. In the Hedqvist case (C-264/14, 22 October 2015) the Court of Justice of the EU ruled that exchanging traditional currency for bitcoin and back is a supply of services exempt from VAT under Article 135(1)(e) of the VAT Directive. Revenue follows this: exchange of bitcoin for traditional currency is exempt under paragraph 6(1)(d) of the VAT Consolidation Act 2010, as Revenue cites it, “where the company performing the exchange acts as principal”, meaning it buys and sells the crypto as owner.
Being paid in crypto. VAT is due in the normal way on goods or services sold for bitcoin or similar crypto. The taxable amount is the euro value of the crypto at the time of the supply. The standard VAT rate is 23% in 2026, with reduced rates of 13.5% and 9% for certain goods and services.
Mining. Revenue says income from crypto mining “will generally be outside the scope of VAT”, because mining is not an economic activity for VAT purposes. A miner therefore does not charge VAT on mining income.
Staking and NFTs. Revenue publishes no VAT position on staking or on NFTs (October 2026).
If your business provides crypto services
Exchanging, storing or transferring crypto for customers is a regulated service under MiCA. A business needs authorization from the Central Bank of Ireland or from the regulator of another EU country; since 2 April 2026 applications to the Central Bank go through its online portal. The old Irish registration of virtual asset service providers for anti-money laundering is no longer used: its register listed no firms on 5 January 2026. See regulation.
Since 1 January 2026 reporting crypto-asset service providers must also collect information on their customers and transactions and report it to Revenue every year by 31 May (DAC8 and the OECD Crypto-Asset Reporting Framework). The first report, on 2026, is due by 31 May 2027. What is reported is listed on filing and deadlines.
Sources
- Revenue: Tax and Duty Manual Part 02-01-03, Taxation of Crypto-Asset Transactions (reviewed January 2026) (last checked October 2026)
- Revenue: Corporation Tax, basis of charge (last checked October 2026)
- Revenue: Corporation Tax (CT), overview (last checked October 2026)
- Department of Finance: Budget 2027 Tax Policy Changes (last checked October 2026)
- EUR-Lex: Court of Justice, Hedqvist, C-264/14 (22 October 2015) (last checked October 2026)
- Revenue: Current VAT rates (last checked October 2026)
- Central Bank of Ireland: Markets in Crypto Assets Regulation (MiCAR) (last checked October 2026)
- Central Bank of Ireland: Registers (Register of Virtual Asset Service Providers as at 5 January 2026; Register of Crypto-Asset Service Providers) (last checked October 2026)
- Revenue: Crypto-Asset Reporting Framework (CARF)/DAC8 (last checked October 2026)
This page is general information, not tax advice. Rules and rates change, so check the official sources above before you act.