Tax
Explainer: What firms need to know about the May 1 warehoused debt deadline
Businesses have to submit their applications for a phased payment schedule by the beginning of next month
According to figures from the Department of Finance, more than 55,000 companies remain in the warehouse – the debt warehouse, that is.
While Revenue has reclaimed €1.5 billion owed to it in warehoused pandemic debt by businesses, €1.65 billion remains outstanding.
The bulk of the debt, €1.41 billion, is warehoused by 5,040 customers with outstanding balances greater than €50,000. Around 70 per cent of customers with debts owe less than €5,000.
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