Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Private profiles - please note that profiles marked as private will soon be public. This will facilitate moderation so mods can view users' warning histories. All of your posts across the site will appear on your profile page (including PI, RI). Groups posts will remain private except to users who have access to the same Groups as you. Thread here
Some important site news, please read here. Thanks!

Cryptos and CGT

  • 13-12-2017 3:35pm
    #1
    Registered Users Posts: 25,605 ✭✭✭✭ GreeBo


    The most recent info I can find on cryptos and CGT is the below, which is going on 4 years old.

    Anyone got anything more recent and definitive?

    The below clearly says to me that any time you dispose of a currency you are disposing of an asset and are liable for CGT on any profits.
    It makes no mention of only being liable when disposing into EUR, even if in reality that is the only time anyone else is going to know anything about your profits.

    Anyone disagree, and if so, why?
    CGT is chargeable on gains made on the disposal of assets. Section 532(b) Taxes Consolidation Act 1997 states that any currency other than the currency of the State is an asset for CGT purposes. Where a person acquires any foreign currency i.e. other than Euro, he/she has acquired an asset for CGT purposes. If that person subsequently converts that foreign currency into Euro or into another foreign currency that would constitute a disposal of an asset for CGT purposes.


Advertisement