Revenue is aware that the rise in fuel and other costs may cause cash flow difficulties for certain individuals and businesses.
Revenue appreciates that this is a difficult time for those affected and confirms that it will work with taxpayers who have been adversely impacted to ensure that good compliance records can remain on track.
On Friday, Collector-General, James Twohig outlined that Revenue will engage with any viable business that experiences cash flow difficulties due to the rise in fuel and other costs.
The Collector-General stated that “Rising fuel and other costs have affected businesses in a variety of ways. Revenue acknowledges that it can be a worrying time in terms of the ability to keep an otherwise good tax compliance record on track. Revenue will adopt a pragmatic approach where businesses have been adversely impacted because of rising fuel costs”.
Mr Twohig explained that:
“Revenue has a strong track record in successfully agreeing flexible and appropriate payment arrangements where businesses are facing temporary cash flow difficulties, and we will work with those affected by rising fuel and other costs to take their financial circumstances and capacity to pay into account.
I would strongly encourage affected taxpayers to take the following practical steps:
- continue to send in your tax returns on time, and
- engage early with us if you run into, or are facing, difficulty in paying your tax.
Rather than hope that such payment difficulties will resolve in time, my advice to taxpayers adversely impacted by rising fuel and other costs is to proactively engage with Revenue to agree mutually suitable arrangements.”
Revenue’s Collector-General Division can be contacted on 01 738 3663, or through MyEnquiries.