Revenue Warehousing of Tax Forbearance

The Revenue Warehousing of Tax Forbearance includes the following:

  • Warehousing of tax liabilities including VAT and Payroll tax debt accrued by companies during the Covid -19 crisis
  • The warehoused tax liability will be interest free
  • The warehousing period will be twelve months from the date on which trading recommences i.e. post lifting of sectoral restrictions
  • Prior to the expiry of the warehousing period, the business will be expected to engage with Revenue to agree an exit strategy better suited to the specific business needs and the need for continued viability
  • Post the 12-month warehousing period, businesses will qualify for a considerably reduced rate of interest of 3% (down from 10%) on outstanding debts on agreement of such arrangements, to be set out in legislation
  • In order to continue qualifying for these arrangements, businesses must remain compliant with all of their return filing and tax payment obligation in respect of periods that postdate the periods covered by the warehouse debt

Available to:

  • Details to be finalised, but likely to be any business in every sector of the economy who has been negatively impacted by COVID-19
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