Industry and Employment Correspondent
The Employment Wage Subsidy Scheme has cost the state over €2 billion so far in wage supports for businesses affected by the pandemic.
This is according to the latest statistics published by Revenue.
Since the EWSS was launched in September to replace the Temporary Wage Subsidy Scheme, the Government has disbursed €1.744 billion in wage subsidies for 505,600 employees, with a further €303m in PRSI foregone due to the reduced PRSI rate on the payroll supports.
45,900 employers have registered for the EWSS.
This figures includes 1,400 re-registrations , but excludes 2,500 employers who registered and subsequently cancelled their registrations.
The Employment Wage Subsidy Scheme replaced the Temporary Wage Subsidy Scheme last September, and allows employers to claim government subsidies towards the wages of their staff.
Mature woman working from home
With news emerging this week that around 400,000 PAYE workers will face a tax bill in relation to Pandemic Unemployment Payment (PUP) and Temporary Wage Subsidy Scheme (TWSS) payments received during 2020, many people have found themselves owing a chunk of tax they hadn’t necessarily anticipated. Here’s what you need to know
Revenue confirmed that all PAYE workers will receive preliminary end-of-year statements this past week. These will reflect any tax overpayments or underpayments for 2020. Figures show that 660,000 employees who received a TWSS payment last year could be facing a tax shortfall.
Why might I suddenly have a tax bill?
Fine Gael Senator Calls for Revenue to extend deadline for employers who wish to help workers with Covid-19 related tax bills
24 January 2021
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Galway Bay FM Newsroom – Fine Gael Seanad Spokesperson for Public Expenditure and Reform, Seán Kyne has said that Revenue should extend the deadline from June to the end of the year for employers seeking to help their workers with tax bills arising from Covid-19 supports.
Senator Kyne said that the introduction of the Temporary Wage Subsidy Scheme and the subsequent Employment Wage Subsidy Scheme supported households across the country and helped businesses stay afloat and as is the case with all income, payments under the TWSS were liable to income tax as the preliminary 2020 tax statements issued by Revenue last week to all PAYE workers showed.