Ireland excludes crypto from its new tax-advantaged investment accounts

Crypto locked out of Ireland's new savings push

Ireland is preparing to open a new tax-advantaged Investment Account to every adult tax resident from 2027, but crypto holders will not benefit. Finance Minister Simon Harris announced the Savings and Investment Account (SIA) scheme, which will offer tax-advantaged treatment on a curated list of traditional assets: shares, bonds, funds, ETFs, and insurance-based products. Highly complex and risky products such as derivatives and crypto assets will be excluded.

The initial model will be available to Irish tax-resident individuals aged 18 and over who hold a PPSN, with one account permitted per person. The scheme will replace the country's standard 33% capital gains tax rate and 41% fund exit tax with a flat annual levy above a tax-free threshold. It also waives Ireland's controversial "deemed disposal" rule for assets held within the account. Budget Day on October 6, 2026, will set the three numbers that decide how useful the new Investment Account is: the tax-free threshold, low flat annual tax rate above that threshold, and yearly contribution cap.

Targeting a €175 billion deposit pile

The scheme is designed to move some of the $203 billion (€175 billion) Irish households hold in bank deposits. About 38% of Irish household financial assets are held in cash or deposits, compared with an EU average of about 30%, while direct holdings of listed shares and debt securities account for only 2.3%, compared with 7.5% across the EU. Harris has argued the account is meant to close that gap, stating that "capital markets should not feel remote or like something that is only for people with significant wealth or financial expertise."

Crypto holdings will remain subject to the ordinary tax rules, including 33% capital gains tax on disposals, meaning Ireland's new tax-free investment account will provide relief for traditional investments but not crypto assets. The exclusion is consistent with a broader regulatory tightening: Harris launched Ireland's first national anti-money laundering strategy on August 13, bringing enhanced checks on transfers involving private wallets and stricter due diligence on firms dealing with overseas crypto companies. It built on a 30-point action plan published in June that named crypto-asset misuse among the country's evolving financial-crime threats.

Irish crypto holders can keep buying and holding through authorised CASPs, but they will not get the account's tax-free band, provider-paid tax, or portability benefits. Legislation is anticipated in the Finance Bill, and accounts will be opened in 2027.

Sources:
Irish Government: Roadmap for the Taxation of Retail Investment (official press release)
Decrypt: Ireland Bars Crypto From State Savings Scheme
Coin Edition: Ireland Excludes Crypto From New Tax-Advantaged Investment Accounts