Wednesday, 15 September 2021

Questions (261, 268)

Brendan Griffin

Question:

261. Deputy Brendan Griffin asked the Minister for Finance the advice which can be provided in relation to a matter (details supplied); and if he will make a statement on the matter. [43268/21]

View answer

Michael Healy-Rae

Question:

268. Deputy Michael Healy-Rae asked the Minister for Finance if he will address a matter (details supplied) regarding income tax returns; and if he will make a statement on the matter. [43368/21]

View answer

Written answers (Question to Finance)

I propose to take Questions Nos. 261 and 268 together.

I can assure the Deputies that Revenue understands and appreciates the unprecedented situation facing taxpayers and businesses as a result of the ongoing COVID-19 pandemic, and has played a key role in responding to the many challenges arising during this crisis. Revenue works very closely with businesses and tax practitioners and continues to be flexible and responsive in putting solutions and processes in place that assist and support businesses. Revenue’s approach must also have regard to the very considerable supports being provided by Government, the need to make sure that businesses are correctly availing of those supports and the need to ensure ongoing tax compliance by those availing of these supports.

For taxpayers who file their 2020 Form 11 return and make the appropriate payment through ROS for Preliminary Tax for 2021 and Income Tax balance due for 2020, the due date has already been extended by Revenue from 31 October to Wednesday 17 November 2021. Where access to necessary information for tax returns is being impacted by COVID-related difficulties, the relevant return should be submitted on a ‘best estimate’ basis. Revenue has advised me that it would expect that the instance of such difficulties is expected to be very low and Revenue has assured me that any subsequent amendments can be completed on a self-correction basis without incurring additional penalties.

Revenue will continue to monitor the situation over the coming months, but no further extension on filing deadlines is envisaged at this time. The timely filing of tax returns is essential so that Revenue can quantify liabilities, particularly for the purposes of Debt Warehousing and for continued eligibility of businesses to the various COVID-19 support schemes.