Tax clearance update from Revenue

The Institute was contacted by Revenue with an update for members in relation to the status of tax clearance certificates.

During the COVID-19 pandemic, the status of tax clearance certificates remained valid for businesses. Over the coming months Revenue will recommence periodic tax clearance reviews on an incremental tax risk basis. It is expected that a return to normal pre-COVID 19 reviews for tax clearance will be completed by July 2022. Businesses with compliance issues, which would impact on tax clearance being renewed, are advised to bring their affairs up to date as soon as possible. Readers may recall that Revenue ran several targeted campaigns during 2021 to ensure businesses were complying with tax obligations to retain their tax clearance certificates.

Revenue also noted that taxpayers availing of debt warehousing who have all their returns up to date and paid their tax liabilities outside of the debt warehoused periods and plan to pay debt warehoused before the deadline for same, will be able to retain their tax clearance or get renewal of their tax clearance as appropriate.  Revenue’s immediate campaign over the next few weeks is to encourage taxpayers who have compliance issues to bring their tax affairs up to date.