Ireland Tax Agency Updates Guidance on Taxation of Digital-Asset Transactions

The Irish Revenue Commissioners April 27 issued Revenue eBrief No. 095/22, updating guidance on the taxation of digital-asset transactions. The guidance includes: 1) the trading nature of digital-asset transactions; 2) accounting requirements of profits or losses of digital-asset transactions; 3) the definition and calculation of capital gains arising from the disposal of assets concerning individuals, including deadlines, exemption amounts, and examples; 4) the VAT treatment of financial services involved in the exchange of digital currency and supply of goods or services sold in exchange of digital currency; 5) the scope of income generated from mining digital currencies; 6) the taxation ...