Results 1-20 of 1,027,440 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Ciarán Cuffe OR speaker:David Stanton OR speaker:James Lawless OR speaker:Louise O'Reilly)

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: I thank the witnesses for coming in and sharing the information with us. It is an issue we have discussed. Even when we are not directly discussing it, it comes up a lot, so the presentation has been useful. I have a couple of questions and if follow-up is needed, we can engage again afterwards. The first relates to the number of businesses that are failing. Deloitte insolvency and...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: I should point out that I did not use the term "tsunami".

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: I understand other people have used it but it is not one that I would use.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: That brings me to my next question. It relates to the debt warehousing scheme which, as we know, ended last Wednesday. Some 55,000 companies still owe Revenue a total of €1.65 billion under this scheme. How many companies have not engaged with Revenue in this regard? We know that some are engaging. It is not necessarily that people have their heads in the sand. They may be trying...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: I specifically want to know the number who have not, to get a view of what is out there as regards people who have not.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: Is it a large number?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: Will they then necessarily be excluded from the SCARP process?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: They will not be excluded. They will be included.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: I suppose they have to engage to be part of it.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: They will still have a chance. That is what I wanted to get to. On those with whom Revenues is engaging, that number is small but likely to increase off the back of the letters that will go out today.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: My figures state that there was €75 million in warehoused tax liabilities lost due to insolvency last year. Do the witnesses have any idea what the likely figure for this year will be?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: I understand that.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: On companies that have only recently engaged, do they have a caseworker appointed directly to them? Clearly, there is an issue if somebody has not engaged or they are only picking up the phone or sending an e-mail at this stage. What kind of supports are there for each individual business? How is that structured?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

Louise O'Reilly: Okay. Today, or in the coming days, 11,000 customers will receive letters. As a general rule of thumb, what is the rate of return from those letters when they go out? What kind of engagement would Revenue expect?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: I welcome the witnesses and thank them for their presentation and forwarding on their notes in advance of the meeting. Following on from the comments of Deputy O'Reilly, I note there have been 62 SCARP applications to date. Obviously, some small companies have availed of that, as stated in the notes. Revenue said it is still working on some of those cases. Have the 62 cases been finalised...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: A figure of €5.3 million was mentioned in respect of dividends, as against €21.5 million. Where have those figures come from?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: What is happening with the balance of the 62 cases?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: We found out that 663 corporate insolvencies were recorded in Ireland in 2023, according to a report from, I understand, Deloitte. I have a note that there have been 214 so far this year. Those numbers seem quite large compared with the number of companies entering SCARP. Is it Ms O'Dea's view that more companies should avail of SCARP, looking at the large number of insolvencies? Does Ms...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: Maybe as awareness grows more companies will avail of SCARP. Are there many people who inquire about SCARP and then do not go forward with it?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Small Companies Administrative Rescue Process: Discussion (8 May 2024)

David Stanton: I thank Ms O'Dea. Will Mr. Purtill outline the policy of the Revenue Commissioners with respect to when it agrees to write down debt? Is there a clear set of guidelines companies can go to?