Ireland Tax Agency Further Extends Deadline for Debt Warehousing Regime, Reduced Interest for Businesses Affected by Coronavirus

The Irish Revenue Commissioners Oct. 16 issued Revenue eBrief No. 190/20, announcing the further deadline extension to Dec. 10 from Oct. 31 for: 1) the payment of 2019 income tax liabilities and 2020 preliminary taxes, under the debt warehousing regime; and 2) the finalization of phased payment arrangements (PPAs) in order to claim the reduced 3 percent interest on outstanding “non-Covid-19” tax debts, which are older liabilities not related to the coronavirus pandemic. The announcement also includes: 1) the applicability of the income tax warehousing regime; 2) PPA application procedures; and 3) the option for taxpayers to include their balance ...