Are there any specific exemptions or deductions for capital gains tax on digital currencies in Ireland?

1 answers

• Nov 28, 2021 · 3 years ago
  At BYDFi, we are not able to provide tax advice, but I can tell you that there are specific exemptions and deductions for capital gains tax on digital currencies in Ireland. If you hold digital currencies as an investment, any gains or losses made on their disposal will generally be subject to capital gains tax. However, there are certain exemptions and deductions available. For example, if you hold digital currencies for at least 12 months, you may be eligible for a reduced rate of capital gains tax. Additionally, if you incur any expenses related to the acquisition or disposal of digital currencies, you may be able to deduct these expenses from your capital gains. It is important to consult with a tax professional or the Irish Revenue for specific guidance on your individual circumstances.
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