State Bodies

Dáil Éireann Debate, Wednesday - 15 September 2021

Wednesday, 15 September 2021

Questions (170)

Catherine Murphy

Question:

170. Deputy Catherine Murphy asked the Tánaiste and Minister for Enterprise, Trade and Employment the amount paid in late interest payments and penalty payments in each of the years from 2017 to 2020 and to date in 2021 made by the IDA and Enterprise Ireland in respect of late payments being made to suppliers, service providers and contractors, in tabular form; and the measures that each respective body has put in place or is implementing to reduce late payment interest and-or penalty payments. [44017/21]

Written answers

Tánaiste and Minister for Enterprise, Trade and Employment

The information requested in relation to the IDA is available on the IDA Ireland website and is posted every quarter. Material related to the prompt payment policy of EI is also published quarterly on their website.

Below is a list of late payments and compensations for the period 2017 and to end of June 2021, for both the IDA and EI.

YEAR	IDA LATE PAYMENT INTEREST & COMPENSATION	EI LATE PAYMENT INTEREST & COMPENSATION
	€	€
2017	802.00	121.94
2018	8,152.00	74.20
2019	23,088.00	337.20
2020	2,244.00	270.55
2021	245.00	95.05

Both IDA Ireland and Enterprise Ireland endeavour to minimise the amount of late payment interest and compensation payments using the following measures:

- Promptly commence the processing of invoices as received.

- Tracking the date invoices are received, and how many days left to make prompt payment, and highlighting the due dates.

- Daily Monitoring of invoices on hold & promptly taking appropriate action

- Processing frequent payment batches

- Returning incorrect or inadequate invoice to suppliers within 10 working days (with a written statement identifying the defects that prevent the payment being made).

- Utilising automation where possible.