Deferral of Payment of Taxes

Deferral of Payment of Taxes

  • A two-month deferral to enterprises, including the self-employed, to pay Provisional Tax, VAT and National Insurance Contribution on salaries.
  • This will apply for taxes owed until the end of April. All tax forms should be submitted according to normal deadlines. The incentive is primarily aimed, but not limited to, the tourism and hospitality, entertainment, transport, and manufacturing sectors.  Enterprises will still collect National Insurance on their employees’ wages, but will keep these dues for the duration of the deferral.
  • These deferrals are estimated to improve liquidity by €700 million. After these two months, Government will be studying possible extensions of this measure depending on the prevailing economic conditions.

Without prejudice to the right of each enterprise to prove a “significant downturn in turnover” in its specific circumstances, a drop of circa 25% or more in sales registered would certainly satisfy this condition.

This would be ascertained on the basis of a 3 month period in which March would be either the first or the second month, i.e. either from February to April or else from March to May 2020 as compared with the same period of 2019. Naturally, this would in part be based on estimates but as long as such estimates are drawn up in a reasonable manner then they should suffice.

Enterprises claiming this benefit should keep records of these estimates.

 

Applications may be submitted on the link below:

Application Form
Download Guidelines

Economic Support Measures

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Covid Wage Supplement
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Deferral of Payment of Taxes
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Further Liquidity Measures
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Social Measures
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Quarantine Leave
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Facilitating Teleworking Activities
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Employment of Third Country Nationals