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Covid-19 Pandemic Supports

Dáil Éireann Debate, Wednesday - 16 June 2021

Wednesday, 16 June 2021

Ceisteanna (83)

Louise O'Reilly

Ceist:

83. Deputy Louise O'Reilly asked the Minister for Finance the volume of money warehoused under the tax debt warehousing scheme by sector. [32262/21]

Amharc ar fhreagra

Freagraí scríofa

The Debt Warehousing Scheme remains available to support businesses that are experiencing tax payment difficulties arising from the COVID-19 pandemic. The scheme applies to VAT debts, PAYE (Employer) debts, self-assessed income tax debts (balance of 2019 income tax liability and 2020 preliminary tax) and Temporary Wage Subsidy Scheme (TWSS) overpayments.

The Government recently agreed to the extension of the tax debt warehousing scheme to allow the period where liabilities arising can be “warehoused” to be extended to the end of 2021 for all eligible taxpayers, with an interest free period during 2022, and to include overpayments of EWSS in the scheme. I hope to bring legislative proposals into the Dáil before the summer recess to give effect to these changes.

Approximately 86,000 businesses are currently availing of the Debt Warehousing Scheme in respect of over €2.4 billion in tax debt. The table below provides a sectoral breakdown of the debt currently ‘parked’ under the scheme.

Sector

€m

%

Wholesale and retail trade

658

27%

Accommodation and food service activities

302

12%

Professional, scientific and technical activities

287

12%

Construction

250

10%

Administrative and support service activities

171

7%

Manufacturing

159

6%

Information and Communication

154

6%

Transportation and Storage

124

5%

Financial and Insurance Activities

63

3%

Real estate activities

61

2%

Health and Social Work activities

58

2%

Arts, entertainment and recreation

54

2%

Other services activities

43

2%

Education

20

1%

Agriculture, forestry and fishing

19

1%

Other Sectors

24

1%

Grand Total

2,449

100%

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