Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It is worth reflecting on the numbers I put on the record and the fact that two thirds of the businesses that have tax debts warehoused owe less than €5,000. I recognise that this is a significant amount of money for a lot of businesses but in the great majority of cases, with goodwill and co-operation between the business and the Revenue Commissioners, it should be possible to put in place repayment arrangements over a period of time. The Revenue Commissioners have assured me that they will be as flexible and supportive as possible. The requirement that people engage with Revenue is important and it is important that we all emphasise the need to do that.

We must also remind businesses that it remains a key condition of the debt warehousing scheme that current liabilities are filed and paid on time. In order to avail of that lower interest rate and flexibility of entering an arrangement between now and 1 May 2024, current liabilities, as they fall due, must be paid and returns must be filed on time. That said, I have discussed this issue with the Revenue, it knows the importance of it for many businesses concerned and I am satisfied that it will engage in a spirit of co-operation to find solutions in individual cases.

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