What works in Ireland

Ordinary account (ETFs under exit tax)

Every winning switch is taxed and every losing one is wasted: the hardest rules in this study.

Tax cost a year (median)

5.1 pts

Median strategy, before / after tax

9.3% / 4.6%

S&P 500 held, after tax

8.0%

60/40 after tax (worst fall)

5.9% (-20%)

6 of 107 strategies beat a 60/40 after tax in this account with a smaller worst fall; 6 beat the S&P 500 held throughout. Returns a year, in EUR.

The rules

• ETFs: 38% exit tax on every gain in 2026, and losses cannot be used at all.
• Every holding kept 8 years is taxed as if sold (deemed disposal).
• ETCs and ETNs fall under capital gains tax instead: 33% with a EUR 1,270 allowance and normal loss relief.
• Budget 2027 announces 35% exit tax and 31% capital gains tax: the cost falls from 5.1 to 4.7 points a year in our test.

Confidence in these rules: high. Checked 8 October 2026. Sources: Revenue TDM Part 27-04-01: Offshore Funds, ss.747AA-747FA (updated Jan 2026); Revenue TDM Part 27-01A-03: Exchange Traded Funds (last reviewed May 2025); Revenue eBrief 038/22.