A total of 2,876 customers from the agriculture, forestry and fishing sector availed of the tax debt warehouse scheme according to latest figures from Revenue.
The figures suggest the warehoused debt from the agriculture, forestry and fishing sector amounted to €15.8 million.
The debt warehouse scheme had been introduced in 2020 by the government as one of the support measures for businesses and contractors during the pandemic.
It had allowed businesses and contractors to temporarily defer tax obligations including VAT, employer PAYE and certain self-assessed income tax liabilities.
Debt
Today (Tuesday, May 1) was the deadline for businesses to engage with Revenue in relation to their warehoused debt.
Previously the Minister for Agriculture, Food and the Marine had been asked to “intervene” with the Minister for Finance to support an extension to the scheme for farm and forestry contractors.
Specific figures for farm and forestry contractors who availed of the debt warehouse scheme were not available.
Both the Independent TD for Laois-Offaly, Carol Nolan and the Sinn Féin TD for Roscommon-Galway, Claire Kerrane, who is also the party’s spokesperson on Agriculture, Food and Rural Affairs, had highlighted current cashflow challenges facing the farm and forestry sector because of poor weather conditions to the minister.
In response to both TDs Minister Charlie McConalogue said that Revenue “fully appreciates that there may be circumstances where businesses continue to experience cash flow difficulties, impacting either their ability to pay non-warehoused debt, or their ability to meet ongoing tax obligations on a timely basis”.
Meanwhile the Minister for Finance, Michael McGrath, also told Deputy Nolan and Deputy Kerrane that Revenue had confirmed to him that “it is firmly committed to supporting viable businesses”.
He also said that Revenue had taken “a flexible and pragmatic approach to the payment of warehoused debt having regard to the financial circumstances of each business and their capacity to pay”.
“Revenue will work with taxpayers and support them in managing the payment of the debt,” Minister McGrath added.