Thousands of agricultural businesses still warehousing their tax debts
Revenue said last week they had set up more 10,000 phased payment arrangements (PPAs), and were actively progressing 1,500 PPAs.
Taxpayers in the agriculture sector who availed of the tax debt warehousing scheme should engage immediately with the Office of the Revenue Commissioners to devise a payment plan covering their debt.
The scheme was introduced in May 2020 to support businesses as they recovered from the impacts of the covid pandemic and the cost-of-living crisis. It allowed businesses to temporarily defer VAT, employer PAYE, certain self-assessed income tax liabilities, and wage subsidy scheme and employment wage subsidy scheme over-payments, on an interest-free basis up to the end of 2022, or until the end of April 2023 for those availing of the extended scheme.
