Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

The principle of the scheme is very good. It is like everything else: this is happening at great speed. It is a highly important measure. However, with speed comes a need for time to look through the detail.

I am seeking clarification on something that has come up during the day. I agree with Deputy McGrath. Section 26(19) provides that the Revenue Commissioners will publish guidelines. They have published transitional guidelines for the first couple of weeks. Detailed guidelines will be published shortly. It is critical that the detailed guidelines deal with these issues. Section 26(3) refers to a business being treated as being adversely affected in accordance with guidelines published by the Revenue Commissioners. A business must show to the satisfaction of the Revenue Commissioners a 25% reduction in turnover. Many of these matters can be addressed in the guidelines. The guidelines need to be highly detailed. They need to define what the Minister means by "inability to pay". That is causing a degree of concern among certain people. It might give rise to a question of being deemed to be insolvent. That can be defined in the guidelines.

There are other points of note. Section 26(5)(i) refers to how the employer will not be entitled to a deduction against corporation tax or profits in respect of any top-up paid. Can that be looked at in terms of the guidelines?

The Minister might clarify section 26 (1) (a) and (b), which refers to being able to file returns on time. I may have misinterpreted this, but my understanding is that this needs to be clarified in the detailed guidelines issued by the Revenue Commissioners. The manual P30 has to be filed by 15 March for February and the electronic one by 24 March. Are employers required to pay the relevant amounts? A recent derogation provided that no interest would be charged if PAYE and VAT were paid late. It is important that the guidelines issued by the Revenue Commissioners specify what is meant by inability to pay and how the 25% loss in turnover will be defined.

There is confusion around interest. It would appear that the guidelines state that the subsidy would not be subject to income tax when it is paid, but the employer would be required to tax it as an overall rate at the end of the year. That appears to be in the temporary guidelines from the Revenue Commissioners, and perhaps the matter can be examined before the final guidelines are issued.

See this speech in context