CGT on a share sale with FIFO matching and the annual exemption.
CGT due
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Proceeds
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FIFO matched cost
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Taxable gain
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Net after CGT
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Your breakdown
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Worked example
Suppose you bought two lots: 100 shares at 10 euro and later 100 shares at 15 euro, and you now sell all 200 at 20 euro, with 50 euro of dealing costs. Proceeds are 200 multiplied by 20, or 4,000 euro. Under first-in first-out, the cost matched against the sale is the earliest shares first: 100 at 10 euro plus 100 at 15 euro, which is 2,500 euro. The gain is 4,000 less 2,500 less the 50 euro of costs, so 1,450 euro. The first 1,270 euro is covered by the annual exemption, leaving 180 euro taxable. At the 33% CGT rate that is 59.40 euro of tax, so you net about 3,890.60 euro after costs and CGT. Selling fewer shares would match less cost and could fall entirely within the exemption.
How it is calculated
When you sell part of a holding bought at different prices, Revenue applies first-in first-out matching: the shares sold are treated as the earliest ones you acquired. The tool walks your purchase lots in order, consuming the oldest first until it has matched the number of shares sold, and adds up their cost. The gain is the sale proceeds less that matched cost and any dealing costs. The annual exemption of 1,270 euro is then deducted, and whatever remains is taxed at the 33% CGT rate. The exemption is per person each year and cannot be carried forward, so spreading disposals across tax years can use more than one year of exemption. Note that shares are subject to Capital Gains Tax, which is separate from the 41% exit tax that applies to most funds and ETFs, where different rules and a deemed disposal also apply.
Frequently asked questions
How does FIFO work for CGT on Irish shares?
When you sell part of a holding bought at different prices, Revenue uses first-in first-out matching: the shares you sell are treated as the earliest ones you bought. The gain is the sale proceeds less the cost of those earliest shares and any dealing costs. After the 1,270 euro annual exemption, the gain is taxed at 33%. Shares are subject to CGT, which is different from the 41% exit tax that applies to most funds and ETFs.
What is the CGT annual exemption for 2025 and 2026 in Ireland?
Revenue allows each individual a 1,270 euro annual CGT exemption on net chargeable gains. The exemption has remained at 1,270 euro for many years and applies for both the 2025 and 2026 tax years. It is a use-it-or-lose-it allowance: any unused portion cannot be carried forward to a future year. Married couples and civil partners each have their own separate 1,270 euro exemption, so a couple can shelter up to 2,540 euro of gains per year combined.
When do I have to pay and file CGT on Irish shares?
Irish CGT is payable in two tranches depending on when in the year you dispose of the shares. Gains made between 1 January and 30 November (the initial period) must be paid by 15 December of the same year. Gains made in December (the later period) must be paid by 31 January of the following year. The return itself is filed as part of your annual income tax return, due 31 October (or mid-November if filing through ROS). Missing the payment date triggers interest at 0.0219 percent per day under Revenue rules.
Are shares and ETFs taxed differently in Ireland?
Yes. Ordinary shares in companies are subject to Capital Gains Tax at 33% after the 1,270 euro annual exemption, with FIFO lot matching on partial sales. Most funds, ETFs, and investment trusts fall under the exit tax regime instead: gains and income are taxed at 41% on disposal, and there is also a deemed disposal rule that taxes unrealised gains every eight years even if you have not sold. The exit tax regime has no annual exemption and no loss relief against other gains. This distinction makes the tax treatment of shares significantly more favourable than that of ETFs for long-term investors.