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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