Tax
Capital Gains Tax in Ireland
A 33% charge that Budget 2027 has cut to 31%, an allowance of €1,270 that has not moved since the euro arrived, and a payment deadline in the middle of December that catches people out every year. Here is how CGT works, and why it matters that the Personal Investment Account is being built beside it rather than on top of it.
Updated 6 October 2026
Reviewed October 2026
The short version
- The rate is 33% on chargeable gains for most assets: individual shares, investment property, land, and crypto. Budget 2027 cut it to 31% for disposals on or after 7 October 2026, written into section 36 of the Finance (No. 2) Bill 2026.
- The first €1,270 of gains each year is exempt. It is per person, cannot be shared with a spouse, and cannot be carried forward.
- You pay on the gain, not the sale proceeds — cost, fees and stamp duty come off.
- Losses reduce gains in the same year, and unused losses carry forward indefinitely.
- You file and pay yourself. CGT is not deducted at source the way DIRT and exit tax are.
How the gain is worked out
The chargeable gain is the disposal price less what you paid for the asset and the costs directly tied to buying and selling it — broker commission, stamp duty on purchase, legal and auctioneer fees on property. Enhancement expenditure on property counts; ordinary maintenance does not. For assets bought before 2003 there is indexation relief on the original cost, which no longer applies to anything acquired since.
| Selling €12,000 of shares bought for €6,000 | Amount |
|---|---|
| Proceeds | €12,000 |
| Less cost and dealing costs | €6,120 |
| Chargeable gain | €5,880 |
| Less annual exemption | €1,270 |
| Taxable | €4,610 |
| CGT at 33% (current rate) | €1,521 |
| CGT at 31% (Budget 2027 rate) | €1,429 |
Two rules that trip people up on shares
The deadlines
| What | When |
|---|---|
| Pay CGT on disposals 1 Jan – 30 Nov | 15 December, same year |
| Pay CGT on disposals in December | 31 January, following year |
| File the return (Form CG1, or Form 11 if self-assessed) | 31 October, following year |
That December payment date is the single most common CGT mistake among casual investors: the tax is owed weeks after the sale, long before anyone is thinking about a tax return.
What is exempt or relieved
- Your own home, for the period it was your principal private residence.
- Transfers between spouses and civil partners living together.
- Government stocks, lottery and betting winnings, and most life assurance policies.
- Retirement relief and revised entrepreneur relief, which can reduce the charge on a business disposal to 10% within limits.
- Gains inside a pension. Nothing inside an approved pension arrangement is charged to CGT.
CGT, exit tax, and the PIA
Ireland taxes the same act — buying something, holding it, selling it for more — three different ways depending on the wrapper. This is the real subject of this site, and it is why the arithmetic below matters more than the headline rates.
| Shares (CGT) | ETFs and funds | PIA from 2027 | |
|---|---|---|---|
| Rate | 33%, cut to 31% from 7 October 2026 | 35% exit tax from 1 January 2027 | 1% annually above €50,000 |
| Annual exemption | €1,270 | none | tax-free threshold proposed |
| Loss relief | yes, carried forward | no | to be confirmed |
| Taxed before you sell | no | yes — deemed disposal at 8 years | no deemed disposal |
| Who files | you | you, or the platform | expected to be the provider |
On the numbers alone, a lower rate plus an allowance plus loss relief makes direct shares look like the better-treated asset. That is precisely the problem the PIA is meant to solve: the tax code has quietly pushed ordinary Irish investors away from a diversified global fund and towards picking individual companies, which is the riskier of the two for someone investing a first €5,000.
What the PIA does not change
Frequently asked
What is the Capital Gains Tax rate in Ireland?
33% on chargeable gains for most assets, including shares, investment property, land and crypto. Budget 2027 cut the standard rate to 31% for disposals on or after 7 October 2026, subject to Finance Bill 2026 becoming law. Some disposals of foreign life policies and certain offshore funds are charged at 40% instead.
How much can I make before paying CGT in Ireland?
The first €1,270 of chargeable gains each tax year is exempt. The allowance is personal, cannot be transferred between spouses or civil partners, and cannot be carried forward if unused.
When do I pay Capital Gains Tax in Ireland?
For disposals between 1 January and 30 November, payment is due by 15 December of the same year. For disposals in December, payment is due by 31 January of the following year. The return itself is filed by 31 October of the year after the disposal.
Do ETFs pay Capital Gains Tax in Ireland?
No. Most ETFs and funds sit outside CGT and are charged 38% exit tax (35% from 1 January 2027), with deemed disposal every eight years, no annual exemption and no relief for losses. That difference is the main reason Irish investors end up in individual shares rather than a diversified fund.
Can I offset losses against Capital Gains Tax?
Yes. Losses on other chargeable assets in the same year reduce your gains, and unused losses carry forward indefinitely against future gains. This relief does not exist in the exit tax regime that applies to funds.
Will the Personal Investment Account replace CGT?
No. The PIA, planned for 1 July 2027, is a wrapper with its own flat 1% annual charge above a €50,000 threshold, aimed mainly at the fund investing that is currently taxed at 38% (35% from 1 January 2027). Shares held directly outside the account will still fall under CGT.
Sources
Keep reading
- Using the €1,270 CGT exemption to fund a PIA
- ETF tax in Ireland
- Deemed disposal, explained
- The PIA rules ledger
What each provider has said about its PIA
Run your own numbers
Compare a Personal Investment Account against a deposit account and a standard fund over 10, 20 or 30 years — with real Irish rates.
Open the PIA calculatorInformation only, not financial or tax advice. PIA rules are as written in the Finance (No. 2) Bill 2026, published 19 October 2026, and are not law until the Bill is signed. Figures cited are from the Department of Finance roadmap, Revenue, Skatteverket, GOV.UK and the IRS.