Business
Almost 13,000 firms facing 10 per cent debt warehouse penalty charge
Revenue could wield ‘big stick’ with companies who have failed to start making repayments under Covid-19 scheme
Around 13,000 businesses are facing the “big stick” of a 10 per cent Revenue penalty charge after they were expelled from its debt warehousing scheme.
The scheme was set up during the Covid-19 pandemic to allow businesses to postpone paying their taxes without being charged any interest or penalties.
Around 63,000 businesses still have €2.2 billion in tax debts in the warehousing scheme, which they will have to start paying back next year.
But new ...