Businesses and self-employed people with outstanding warehoused tax debts are being urged to contact the Revenue Commissioners before the May 1st deadline to work out a payment plan to address their liabilities.
There is €1.65 billion of warehouses debt outstanding, the Department of Finance said on Wednesday. While around 70 per cent of 55,490 individual taxpayers with warehoused debts owe less than €5,000, some €1.41 billion is owed by slightly more than 5,000 customers with outstanding balances greater than €50,000. The total amount owed under the scheme has decreased by €1.5 billion since January 2022.
“It is important to note that, businesses are not required to pay all of their warehoused debt by May 1st, 2024,” the minister said in a statement. “However, in order to avail of the 0 per cent interest and flexible payment options, they are required to engage with Revenue to make arrangements to pay the debt over an agreed period of time, based on their individual circumstances and capacity to pay.
Department-Of-Finance
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