SFA welcomes Revenues decision to extend Debt Warehousing Scheme

SFA Acting Director, Elizabeth Bowen, said: “The announcement from the Revenue Commission of a 12-month extension to the Debt Warehousing Scheme will be welcomed by many in the small business community. Government has listened to the calls of Ireland’s smallest employers and have now accepted the need for an extension of the Debt Warehousing Scheme.

“The policy of tax warehousing was a major plank of the Governments Covid 19 response to support business. Many small businesses availed of this scheme to ensure that they could retain employees, remain trading or to simply remain viable during this period. Unfortunately, these businesses are now facing significant cost pressures from rising energy, transport, insurance, materials, technology, and operating costs in general. Therefore, the extension of the timeline until May 1, 2024, is crucial to meet the current economic challenges”, Ms. Bowen concluded.