Number of firms paying tax by installment rises

Thousands of Irish companies have agreed installment payment plans with the Revenue Commissioners because they are unable to pay their tax bills on time.

In 2009, some 12,500 companies had entered into installment arrangements to pay their taxes. By 2011, that number had risen by 28% to 16,000 companies.

The Revenue Commissioners are entering into agreements in an attempt to keep viable businesses open and maintain employment levels, a spokesperson for the Revenue said.