Revenue: 98% of warehoused debt owed by 15,000 businesses

📆 4/30/2024 4:38 PM
📰 RTEbusiness

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More than three quarters of the outstanding €1.5bn of debt currently being warehoused by Revenue has now either been paid back in full or has had a phased payment arrangement agreed in relation to it.

Tomorrow is the deadline for firms which owe the parked debt to Revenue to have either paid it or agreed a plan to pay it.

However, Revenue said this afternoon that 98% of the debt in the warehouse is owed by just over 15,000 businesses. Revenue added that phone lines at the Collector General's Division would remain open from 9:30am to 1630pm until Friday. "Where a business fails to meaningfully engage with us, the balance outstanding will immediately be subject to standard debt collection proceedings and the standard interest rate of 8%/10% will apply," Revenue said.

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