Government and institution measures in response to COVID-19.
Government and institution measures in response to COVID-19.
Return to homepage | Last updated: 18 November, 2020
Irish Revenue announced certain tax relief measures designed to help support small and medium businesses (SMEs) experiencing cash-flow and trading difficulties as a result of the coronavirus (COVID-19) pandemic.
The Irish government on 24 March 2020 announced measures to provide financial support to Irish workers and companies affected by the coronavirus (COVID-19) crisis.
The Irish government on 23 July 2020 announced further measures aimed at supporting Irish workers, employers and businesses affected by the coronavirus (COVID-19) crisis as part of the July Jobs Stimulus Initiative.
Click here to see a comprehensive summary of jurisdictional tax measures and government reliefs in response to COVID-19.
The measures include a temporary COVID-19 wage subsidy scheme (TWSS) that provided, until the end of August 2020, a program focused on assisting employers with employees who were laid off without pay. All companies, including SMEs, were able to avail of the scheme. The key features of the scheme included:
Prior to the cessation of the TWSS, a new Employment Wage Subsidy Scheme (EWSS) was launched with effect from 1 July 2020 until the end of March 2021, with the possibility of extension to the end of June 2021. The EWSS ran concurrently with the TWSS until that scheme ended on 31 August 2020. Key features of the EWSS include:
Other income support measures for employees and self-employed persons.
In addition to the TWSS / EWSS, the government announced some further enhanced income support measures, including:
Other income support measures for employees and self-employed persons. (continued
Start-ups
Start-ups
Stay and Spend tax credit
Enhanced “Help to Buy” scheme
Start-ups
Import/export Declarations
Given the current COVID-19 restrictions in place, a scanned copy of original documents submitted through Revenue’s online system, MyEnquires, will be accepted in the clearance of consignments. The original must be retained by all declarants and made available for inspection by Customs if requested or during a post-clearance check.
Payment facilities
Debt enforcement activities have been suspended. In addition interest on late payments of VAT is suspended for January/February, March/April and May/June 2020 VAT returns for those in the SME sector, broadly those with less than €3million turnover. Experience of other client cases shows Revenue willingness to facilitate deferrals or phased payments of VAT liabilities due,
Customs audits
Irish Revenue have suspended audit and other compliance intervention activity on taxpayers’ premises until further notice. Where possible, Revenue will seek to finalize any open investigations online or via phone.
Customs authorizations
Authorizations due for the renewal of existing Customs Special Procedure Authorizations in March and April have been extended to 31 May 2020. (Effective until 31 May 2020)
Excise
Relief from Excise Duty (Alcohol Products Tax) for the manufacture of hand sanitizer products
Vehicle Registration
Vehicle Registration Tax appointments have been cancelled from 28 March until further notice. Penalty mitigation procedures are introduced as result of being unable to register vehicles for VRT purposes.
KPMG Ireland has a dedicated website providing a range of practical guides and support to help businesses manage the impact of Covid 19
Tax: Orla Gavin – orla.gavin@kpmg.ie
Restructuring: Kieran Wallace – kieran.wallace@kpmg.ie
Legal: Francis Hackett – francis.hackett@kpmg.ie