Covid 19 Measures and Tax Reliefs Ireland

February 22, 2021

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The Irish government has introduced a number of measures to assist businesses and individuals experiencing a loss of income due to Covid 19 restrictions.

Tax Warehousing

Applies to Income Tax, VAT, and Payroll debts from 1 March 2020

You are not required to make any payments until 12 months from the lifting of Covid restrictions as they apply to your sector

Interest will not be applied to late payments during this time. Additionally, late payments after this 12 month timeframe has passed will incur a reduced interest rate of 3%.

You must continue to file your returns on time – the government has stressed that Tax Warehousing will only be applied to returns that are filed on time.

Refunds

The Revenue Commissioners have also committed to expediting VAT refunds which may be due during this time or from prior VAT periods in an effort to assist businesses to maintain critical cashflow.

Resources;

https://www.revenue.ie/en/corporate/communications/covid19/filing-and-paying.aspx