Revenue parks almost €3bn of tax debt linked to Covid restrictions

Businesses hit by Covid restrictions will be able to continue to avail of the Debt Warehousing Scheme for the first quarter of 2022

Revenue has said there are currently more than 100,000 Covid restriction-impacted businesses and individuals availing of its Debt Warehousing Scheme, with nearly €3bn of tax debt currently parked.

Nearly €3bn of corporate and private tax debt – linked to more than 100,000 businesses and individuals financially affected by Covid restrictions – is currently being parked by Revenue via its debt warehousing scheme.

The scheme – which has been extended to cover the first three months of this year – allows Revenue to park Vat and payroll tax payments due from Covid-hit companies and individuals.