Should COVID-Related Tax Bills Be Scrapped?
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Revenue has issued tax bills to 420,000 people who were on the Temporary Wage Subsidy Scheme or the Pandemic Unemployment Payment last year.
The total amount of tax owed comes to €458 million.
However, Labour has called on Finance Minister Paschal Donohoe to scrap these COVID-related tax bills.
Should this happen?
Ged Nash, Labour Party spokesman on Finance, Public Expenditure and Reform, and Norah Collender, Professional Tax Leader at Chartered Accountants Ireland, joined us with more on this issue.
Should COVID-Related Tax Bills Be Scrapped? 00:00:00 / 00:00:00
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Over 630,000 people will be hit with tax bills from Revenue today.
Those who received the two main Covid-19 support schemes last year should pay particular attention to this document.
Figures released by Revenue last night show that around 420,000 people will be issued with bills as a result of payments they received under the Temporary Wage Subsidy and the Pandemic Unemployment Payment.
71% of those in receipt of the TWSS in 2020 have underpaid tax and will receive a tax bill.
Just 33% of those who received the PUP will have to pay up, while 48% will actually be entitled to a refund.
Revenue said the statements will be issued this morning, and can then be accessed through the MyAccount facility on the Revenue online service.
The UK Government has said businesses in Great Britain should still be sending parcels to Northern Ireland amid concerns over cancelled orders and delayed deliveries.
Customers of firms like John Lewis, Next and Dunelm have all been told their deliveries are delayed, while orders with TK Maxx are cancelled.
Under the NI Protocol, companies sending parcels here have to complete customs declarations.
While a three-month grace period is in force, it was not announced until shortly before the protocol began to apply at 11pm last Thursday.
But freight boss Seamus Leheny of Logistics UK dismissed a call by North Antrim DUP MP Ian Paisley that the protocol should be dropped.