Swapping Crypto for Crypto in Ireland: A CGT Example

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

Educational information only. Not tax, legal or financial advice. We are not Revenue (the Irish tax authority) and are not affiliated with it. Check revenue.ie and consider a qualified adviser. Last checked against Revenue pages: 17 October 2026. Anything marked expected should be re-checked. Examples use made-up numbers. This page contains no affiliate links.

Short answer: Revenue's manual on market-value disposals says the exchange of one asset for another is a chargeable occasion for both persons involved unless special rules apply (it lists share-conversion rules and similar, not crypto). Revenue's crypto manual adds that the sale, transfer or redemption of crypto-assets is most likely a CGT disposal. So a swap of one crypto for another is generally treated as a disposal of the first, with the euro value of what you received as the proceeds. This is our application of those two texts; the crypto manual does not give a swap example.

Worked example (all numbers made up)

Points to record

Related

Which transactions are disposals · Exemption and losses · Mixed-year rate

Revenue's eBrief 142/26 (6 October 2026) says the 2% reduction to 31% was announced in Budget 2027 and applies to disposals on or after 7 October 2026; Revenue's How to calculate CGT page (published 7 October 2026) shows 31% (33% before). We did not verify the legislation, so we write 31% per Revenue (Budget 2027), to be legislated and treat it as expected.

FAQ

Is a swap through a decentralised exchange different?

Not addressed in the pages read.

Can I defer the gain?

We found no deferral for crypto swaps.

What we could not verify

  • That no Revenue text gives an express crypto-to-crypto example; the treatment is our reading of the general exchange rule and the crypto manual.
  • The acquisition cost of the new coin and treatment of fees on a swap (our application).
  • Which valuation (exchange rate source) Revenue accepts.
  • Cost-matching method for multiple lots: Revenue has not published a crypto method; FIFO for shares (s.580 TCA) is often applied by analogy, not verified for crypto. The four-week share rule (s.581) is confirmed only for shares and securities.
  • Enactment of the 31% rate; the 31 October 2027 filing date's weekday treatment and any ROS extension (not published in what we read).

Sources (official)

Previous: Spending or accepting crypto · Next: Gifts and CAT

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