Thursday, 11 February 2021

Questions (56)

John Paul Phelan

Question:

56. Deputy John Paul Phelan asked the Minister for Finance if the CRSS will be extended beyond 31 March 2021 if Covid restrictions remain in place; and if he will make a statement on the matter. [7490/21]

View answer

Written answers (Question to Finance)

The CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable to tax under Case I of Schedule D, from a business premises located in a region subject to restrictions introduced in line with the Living with Covid-19 Plan.

Details of CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as set out in the legislation, have been published on the Revenue website at: https://www.revenue.ie/en/corporate/press-office/budget-information/2021/crss-guidelines.pdf

The CRSS is just one of the Government’s supports to assist businesses impacted by COVID-19. Businesses who are not eligible for CRSS may be entitled to alternative supports put in place by the Government, including the COVID Pandemic Unemployment Payment (PUP), the Employment Wage Subsidy Scheme (EWSS) and the Tourism Business Continuity Scheme. Businesses may also be eligibleunder the Debt Warehousing Scheme to ‘park’ certain VAT and PAYE (Employer) liabilities, excess payments received under the Temporary Wage Subsidy Scheme (TWSS), outstanding balances of self-assessed Income Tax for 2019 and Preliminary Tax for 2020.

The legislation provides that the Scheme will run to 31 March 2021 but may be extended by Ministerial Order (subject to Dáil approval) but not later than 31 December 2021.

I will continue to work with Ministerial colleagues to ensure that appropriate supports are in place to mitigate the effects of the Covid-19 pandemic on the economy and in the coming weeks a further assessment will be made, in accordance with the legislation, with a view to determining whether to extend the Covid Restrictions Support Scheme beyond the statutory end date of 31 March 2021.