Foreign Tax on a Crypto Sale: Credit or Allowable Cost?

Updated 17 October 2026 · Information only · Not tax or financial advice

Short answer: Section 828 TCA 1997 deals with double taxation relief for capital gains tax. Tax charged by another country on the disposal of an asset can be relieved by credit under section 826 and Schedule 24 as applied by section 828(1). Subject to that, section 828(4) says foreign tax on the disposal that you bear is allowable as a deduction in computing the gain. Revenue's manual puts it this way: foreign tax on the disposal of an asset is allowable expenditure "to the extent that the tax does not qualify for double taxation relief" (TDM Part 19-02-10, section 10.12). Revenue's "How to calculate CGT" page says you might be able to claim a credit for foreign CGT you have paid, claimed on your return.

What this means

• Report the gain in euro in Ireland as usual (converting to euro).
• Claim any credit on the return; keep proof of the foreign tax paid.
• Do not claim the same foreign tax as both a credit and a deduction: section 828(2) says tax taken into account for credit is not taken into account otherwise.

What we could not confirm

We did not read Schedule 24 or section 826, so we cannot say how the credit is limited or whether a particular country's tax on crypto qualifies. The Revenue pages we read do not mention crypto in this context.

Made-up example

Another country charged €500 tax on a sale. If Irish relief covers the whole €500, it is a credit, not an extra cost. If only €300 qualifies, the remaining €200 might be allowable under the manual's wording. Illustration only; check with an adviser.

Related

Sold on a non-EU exchange · Form CG1 lines · Annual exemption

FAQ

Is there a limit on the credit?

Any limit is in Schedule 24, which we did not read, so we do not state one.

Does the personal exemption apply first?

Not addressed here.

What we could not verify

Sources (official)

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