Tax

Comment: McGrath’s debt warehousing tweaks welcome but in time Revenue must be let off leash

Michael McGrath, the finance minister, announced that the interest rate on pandemic-era warehoused debt would be cut to 0 per cent and refunded for any firms that had already paid it

Revenue has said it will be flexible with businesses engaged with it on its Covid-era debts. Picture: Fergal Philips

Each year, Revenue collects well over €100 billion in taxes from Irish citizens, businesses, and multinationals.

It is without doubt one of the most important arms of the state, in that its sole remit is to collect the taxes that pay for the public services, infrastructure and social supports that make Ireland one of the most developed countries in the world.

At the heart of Revenue’s success at collecting the taxes owed to the state ...