Cryptocurrency transactions in Ireland

On May 15^th, 2018, the Irish tax authority published Guidelines on the application of tax laws to cryptocurrency transactions.

The distribution of income derived from cryptocurrency transactions will depend on the activities of the parties involved in the transactions. Each use of virtual currency will be considered individually and thoroughly.

However, for those types of businesses that accept payment for goods and services in cryptocurrency, no changes will be provided. They are required to keep records of each transaction made in cryptocurrency, and such transactions will not be subject to special taxes.

VAT will be charged in the usual manner from suppliers of any goods and services that sell in exchange for bitcoins and other cryptocurrencies. The taxable amount of VAT will be expressed in euros at the time of service.

On materials of the following website: https://www.revenue.ie/en/tax-professionals/ebrief/2018/no-0882018.aspx