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State still owed €2 billion in taxes by companies which deferred Revenue debts during Covid

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Covid debt: clock ticking for 6,139 businesses that each still have more than €50,000 in tax owing to Revenue in 'warehoused' pandemic-era liabilities as 93% of Covid business tax debt now paid off

In a statement to The Irish Times, Revenue said that as of the end of May 2023, more than 93 per cent of that debt has been paid, leaving the balance of €1.999 billion.

The statement added that to reduce their interest bill, some businesses have already begun to repay their warehoused debt where their financial circumstances permit. Figures provided in March by Minister for Finance Michael McGrath showed that 510 companies eligible for the debt warehousing scheme have been liquidated, with total tax debt of just more than €55 million .

 

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Close to €2bn in taxes still owed by companies on pandemic debt warehousing schemeScheme allowed businesses to defer paying certain tax liabilities until they were in a position financially to deal with the debt
Source: IrishTimes - 🏆 3. / 98 Read more »