Rising number of firms consider liquidation as Revenue deadline looms

Thousands of firms still owe Revenue €1.65 billion in taxes under the state’s warehoused tax scheme

Latest official figures show €1.65 billion is still owed to the state under the debt warehousing scheme by 55,490 companies. Picture: Fergal Phillips

A rising number of hospitality, retail and construction firms are weighing up voluntary liquidation as a Revenue deadline on Covid-era liabilities looms.

More than 4,000 companies that each owe over €50,000 in taxes which was warehoused during the pandemic have yet to enter into repayment arrangements with Revenue ahead of a May 1 deadline, according to a Business Post analysis.

It is now becoming clear that some firms in particular sectors will be unable to ...