Revenue said it recognizes that rising fuel prices and other costs may cause cash flow difficulties for some individuals and businesses.
Revenue said it appreciates that this is a difficult time for those affected and confirmed it will work with taxpayers who have been adversely affected to ensure good compliance records remain on track.
Today (Friday 10 April) Collector-General James Twohig explained that Revenue will deal with any viable business experiencing cash flow difficulties due to rising fuel and other costs.
The Collector General stated: “Rising fuel and other costs have affected businesses in several ways.
“Revenue recognizes that this may be a worrying time in terms of the ability to maintain a good tax compliance record on track.
“Revenue will adopt a pragmatic approach as businesses have been negatively impacted by rising fuel costs.”
Revenue cooperation
The Collector-General explained that Revenue has a strong track record of successfully agreeing flexible and appropriate payment arrangements where businesses experience temporary cash flow difficulties.
He added that revenues will work with those affected by rising fuel prices and other costs to take their financial circumstances and ability to pay into account.
We urge affected taxpayers to take the following practical steps:
- Continue to file your tax returns on time;
- Get involved early with revenue if you have or are having difficulty paying your tax.
Rather than hoping to resolve these payment difficulties in a timely manner, the Department of Revenue’s advice to taxpayers adversely affected by rising fuel and other costs is to proactively engage with the Department of Revenue to agree mutually appropriate arrangements.
