Economic Recovery Plan

Revenue confirm Debt Warehousing Scheme still in operation as businesses reopen

From Gov.ie:

Following the Government meeting today (Tuesday), the Minister for Finance, Paschal Donohoe, T.D., has announced the following set of measures to provide support to businesses as they re-open and resume normal trading:

• The extension of the Employment Wage Subsidy Scheme to 31 December 2021;
• The extension and enhancement of the Covid Restrictions Support Scheme to provide additional support to businesses upon re-opening and to give certainty to businesses still directly affected by public health restrictions;
• A new additional business support scheme (Business Resumption Support Scheme or BRSS) for businesses with reduced turnover as a result of public health restrictions to be implemented in September 2021;
• The extension of the tax debt warehousing scheme to allow the period where liabilities arising can be “warehoused” to be extended to the end of 2021 for all eligible taxpayers, with an interest free period during 2022, and to include overpayments of EWSS in the scheme;
• The Government agreed to the drafting of legislation to provide for these measures.

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