Revenue urges early engagement if virus causing tax difficulties
Revenue has said it will engage with any viable business that experiences temporary cashflow difficulties as a result of exceptional circumstances such as the Covid-19 outbreak.
Collector-General Joe Howley said that Revenue is aware that when temporary cashflow issues arise for a business, it can be a worrying time in terms of the ability to keep an otherwise good tax compliance record on track.
He said that rather than hoping such payment difficulties will fix themselves in time, he strongly encourages affected businesses to take some practical steps.
These include businesses continuing to send in their tax returns on time and to engage early with with Revenue is a business runs into, or faces, difficulty in paying their tax.
Revenue said it works very successfully with businesses that engage early to resolve their tax payment difficulties.
This is evidenced by the fact that, at the end of 2019, over 6,300 businesses had phased payment arrangements in place covering €73m in tax debt.
“It is important that businesses know that we will work with them to resolve their tax payment difficulties,” Mr Howley said.
“With early and meaningful engagement, we can generally agree payment arrangements that are acceptable to both the business and Revenue. This gets the affected business successfully beyond the payment pressure point and keeps a good tax compliance record on track,” he added.
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