€85m in tax debt from more than 950 businesses written off

There were approximately 12,000 businesses and individuals with debts totalling €310m — for previously warehoused periods — that had their warehouse status revoked due to non-compliance with the scheme conditions. File photo: iStock

Around €85m in warehoused tax debt from over 950 businesses has been written off due to these companies going bankrupt or entering into examinership, a report by the Comptroller and Auditor General has found.

The Debt Warehousing Scheme was brought in during the pandemic to support businesses through lockdown measures. It allowed companies to defer the payment of Vat, employer PAYE and certain other tax liabilities including EWSS overpayments.