Written answers

Wednesday, 16 June 2021

Department of Finance

Covid-19 Pandemic Supports

Photo of Louise O'ReillyLouise O'Reilly (Dublin Fingal, Sinn Fein)
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83. To ask the Minister for Finance the volume of money warehoused under the tax debt warehousing scheme by sector. [32262/21]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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The Debt Warehousing Scheme remains available to support businesses that are experiencing tax payment difficulties arising from the COVID-19 pandemic. The scheme applies to VAT debts, PAYE (Employer) debts, self-assessed income tax debts (balance of 2019 income tax liability and 2020 preliminary tax) and Temporary Wage Subsidy Scheme (TWSS) overpayments.

The Government recently agreed to the extension of the tax debt warehousing scheme to allow the period where liabilities arising can be “warehoused” to be extended to the end of 2021 for all eligible taxpayers, with an interest free period during 2022, and to include overpayments of EWSS in the scheme. I hope to bring legislative proposals into the Dáil before the summer recess to give effect to these changes.

Approximately 86,000 businesses are currently availing of the Debt Warehousing Scheme in respect of over €2.4 billion in tax debt. The table below provides a sectoral breakdown of the debt currently ‘parked’ under the scheme.

Sector €m %
Wholesale and retail trade 658 27%
Accommodation and food service activities 302 12%
Professional, scientific and technical activities 287 12%
Construction 250 10%
Administrative and support service activities 171 7%
Manufacturing 159 6%
Information and Communication 154 6%
Transportation and Storage 124 5%
Financial and Insurance Activities 63 3%
Real estate activities 61 2%
Health and Social Work activities 58 2%
Arts, entertainment and recreation 54 2%
Other services activities 43 2%
Education 20 1%
Agriculture, forestry and fishing 19 1%
Other Sectors 24 1%
Grand Total 2,449 100%

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