Temporary COVID-19 Wage Subsidy Scheme – Statistical Update
On 24 March 2020, the Government announced the establishment of a Temporary Wage Subsidy Scheme (TWSS) in response to the economic impact of the COVID-19 pandemic. The scheme, which is operated by Revenue, enables employees to receive significant State supports through their employers’ payroll in circumstances where the employer is affected by the pandemic.
Today (09/04/2020), Revenue published preliminary statistics based on the first two weeks of the operation of the scheme. The preliminary statistics are published on Revenue’s website. Key information reflected in today’s statistics include:
- Over 41,000* employers are registered with Revenue for the TWSS.
- Over 26,200* employers have received a refund under TWSS.
- Over 219,400* employees have received at least one payment under TWSS, of which approximately 80%* have also received a top-up payment from their employer.
- The value of payments made under the scheme is almost €155* million.
- This includes €14.8* million in tax and/or USC refunds made by employers to their employees through the payroll.
* based on data to 9 April 2020.
To receive payments under the scheme employers are required to set up a nominated Refund Bank Account on the Revenue On-Line System (ROS). While the majority of employers have set up a Refund Bank Account, today (09/04/2020) Revenue confirmed it is unable to pay more than €2.7million to approximately 570 employers for payments made by them under the scheme because the nominated bank account details have not been provided.
Revenue has stressed the importance of any employer who is currently awaiting payment from Revenue to check that they have set up a nominated Refund Bank Account in ROS. Details of how to set up a Refund Bank Account can be found on the Revenue website.
Finally, Revenue confirmed that statistical data regarding the TWSS will be updated and published on a regular basis.