Following the Government’s decision, the interest rate charged on warehoused tax has been reduced from 3% to 0%. This means that any interest charges previously raised and notified to the company are no longer due. If your company has already paid these interest charges, Revenue will reach out to facilitate a refund process.
Businesses enrolled in the DWS now have until 01 May 2024 to take action regarding their warehoused debt. Options include paying the debt in full if feasible or engaging with Revenue to address the debt, which may involve setting up a Phased Payment Arrangement (PPA).
This adjustment aims to provide relief and support to businesses during these challenging times. We encourage all eligible businesses to review their options promptly and reach out to Revenue for assistance as needed.