Revenue said today it will engage with any viable business that experiences cash flow difficulties due to the rise in fuel and other costs.
In a statement, Revenue said it is aware that the recent rise in fuel and other costs may cause cash flow difficulties for certain individuals and businesses.
“Revenue appreciates that this is a difficult time for those affected and confirms that it will work with taxpayers that have been adversely impacted to ensure that good compliance records can remain on track,” it stated.
Collector-General James Twohig said that rising fuel and other costs have affected businesses in a variety of ways.
“Revenue acknowledges that it can be a worrying time in terms of the ability to keep an otherwise good tax compliance record on track. Revenue will adopt a pragmatic approach where businesses have been adversely impacted because of rising fuel costs,” Mr Twohig said.
He said that Revenue has a strong track record in successfully agreeing flexible and appropriate payment arrangements where businesses are facing temporary cash flow difficulties.
“We will work with those affected by rising fuel and other costs to take their financial circumstances and capacity to pay into account,” he added.
He encouraged affected taxpayers to continue to send in their tax returns on time, and to engage early with Revenue if they run into, or are facing, difficulty in paying their tax.
“Rather than hope that such payment difficulties will resolve in time, my advice to taxpayers adversely impacted by rising fuel and other costs is to proactively engage with Revenue to agree mutually suitable arrangements,” the Collector-General advised.