The State Is Owed €2.9 Billion In Unpaid Taxes From Businesses During The Pandemic

Thursday, 18 August 2022 10:46

By Caoimhe Harney

It's reported revenue has already written off €26milllion.

The state is owed almost €2.9 billion in unpaid tax by businesses who struggled during the Covid pandemic.

Over 26 million has already been written off by Revenue.

The Tax Debt Warehousing Scheme was announced by the government in May 2020, at the height of Covid restrictions.

It was aimed at supporting businesses who suffered a downturn due to the pandemic.

It allowed them to defer paying tax liabilities until they were able to deal with them.

256,000 businesses were eligible - and their combined debt was nearly 32 billion euro.

Finance Minister Paschal Donohoe has said 91% of that has been paid back to Revenue, but that leaves 2.9 billion euro outstanding.

Revenue has already written off €26.4 million euro in warehoused debt for companies that have been liquidated since the start of the scheme.

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