Revenue has provided an update regarding payment arrangements agreed to address warehoused debt. As of 16:00 on Thursday 2 May, over 10,000 Phased Payment Arrangements (PPAs) have been set up, with Revenue actively progressing a further 1,500 PPA applications. Revenue processed over €65 million in warehoused debt payments last week. It estimates that, when PPA applications on hand are finalised and incoming payments on the Revenue Online Service (ROS) are processed, 85 percent of the €1.65 billion of debt that was warehoused at the start of April will either have been paid in full or secured under PPAs.
Readers are reminded that those businesses who have not yet put arrangements in place to pay their warehoused debt risk losing the 0 percent interest rate and flexible payment options available in respect of their warehoused debt as it will become subject to standard debt collection and the standard interest rate of 8/10 percent will apply. Taxpayers can engage digitally with Revenue via MyEnquiries or ROS or, alternatively, by calling the Collector General (01 738 3663).