Businesses warehousing €3bn in tax debt

105,000 businesses continue to park VAT and PAYE liabilities of more than €3bn

Revenue will begin writing to businesses reminding them of their liabilities.

The majority of businesses eligible for the State's Debt Warehousing scheme are paying their taxes but just under 12,000 firms have yet to pass on €300m they collected during the pandemic a new report from the Revenue shows.

The Covid-19 support scheme allows businesses to park the tax owed to the Revenue including VAT and PAYE liabilities. Writing to the Minister for Finance Paschal Donohoe the Revenue said that at the end of January, almost 105,000 businesses were availing of the scheme in respect of over €3bn in tax debts.