Ireland's New Tax-Free Account Excludes Cryptocurrencies

The Irish government has introduced a new tax-free account for adults in 2027, which will allow them to invest in various assets without paying taxes. However, cryptocurrencies and derivatives are excluded from the list of eligible holdings.

The new Investment Account Ireland is designed to make investing more accessible to everyone, particularly those who may not have had access to capital markets before. According to Tánaiste Simon Harris, 'investing involves risk and is best considered over the medium to longer term.'

The account will be available to Irish tax-resident persons aged 18 or over, with no minimum contribution and no lock-in period. The thresholds and rates for the account will be set on Budget Day, October 6.