Irish Revenue have issued a welcome update announcing measures that are being introduced to assist businesses that are experiencing cash flow issues as a result of COVID-19. Revenue have said that they appreciate that difficulties may arise for businesses in making tax payments, and have therefore issued the following advice:
Information for SMEs
Information for subcontractors
Information on importing goods
Businesses, other than SMEs, who are experiencing cash flow or trading difficulties have been advised to contact the Collector-General’s office or engage directly with their branch contacts
Revenue have stated that they will continue to monitor the situation and will issue further guidance for businesses when required and in advance of the March/April VAT return deadline and other future deadlines.
For additional information on any tax matters, please contact a member of our tax team. We are here to help.