Revenue eBrief No. 180/20
01 October 2020
Extension of deadline to avail of a 3% reduced rate of interest on outstanding 'non-Covid-19' tax debts
The July Jobs Stimulus Package included an incentive whereby a reduced interest rate of 3% per annum is applied to outstanding ‘non-Covid-19’ tax debts, once a payment arrangement is agreed between a taxpayer and Revenue by 30 September 2020.
Given the uptake of this measure to date, and recognising the challenges that taxpayers and tax agents are experiencing at this time, Revenue has announced a one month extension to the initiative. Taxpayers, or tax agents acting on their behalf, now have until 31 October 2020 to finalise phased payment arrangements covering non-Covid tax debts in respect of liabilities due by 30 September.
Applications can be made through Revenue’s Online Phased Payment Facility which is available 24/7 and is an easy to use service for individuals or businesses who want to apply to pay tax debt on a phased basis.
Once the online application is approved by Revenue, the taxpayer or business has considerable flexibility to self-manage the payment schedule in line with business needs.
Alternatively, contact can be made with the Collector-General’s Division on 01-7383663 Monday to Friday from 9.30am to 1.30pm to agree a mutually suitable payment arrangement
An information booklet on the warehousing of tax debts associated with Covid-19 and the reduced interest rate on other tax debts can be found on the Revenue website.