Limerick s Live 95
Search By Live95 News Team Limerick people are being reminded to check whether or not they owe Revenue money.
420,000 people who were on the Pandemic Unemployment Payment or the Temporary Wage Subsidy Scheme will face a tax bill or receive a cheque for overpayments.
Only 33 percent of people who received the Pandemic Unemployment Payment and 71 percent of people who received The Wage Subsidy Scheme will receive a tax bill.
Roy Finucane from Tax Assist in Limerick says a flexible approach is being adapted for people to pay back any outstanding tax bill.
Industry and Employment Correspondent
The Employment Wage Subsidy Scheme would cost an extra €3.7 billion if extended beyond March to the end of this year, Finance Minister Paschal Donohoe has confirmed.
Responding to a Parliamentary Question from Labour Finance Spokesperson Ged Nash, the Minister pledged that there would be no cliff-edge to the scheme, which he described as a key component of the government s response to supporting viable firms, and encouraging employment in challenging times.
He noted that the legislation governing the EWSS allows him to extend the scheme until the end of June 2021, subject to certain conditions, but indicated support would probably be needed for longer.
€79m in wage subsidies repaid to Revenue last year
Updated / Friday, 22 Jan 2021
18:51
One firm repaid €6 million in Covid-19 wage subsidies to the Revenue Commissioners last year.
That is according to new figures provided by the Minister for Finance, Paschal Donohoe, who has confirmed that 5,195 employers repaid a total of just over €79m last year as part of the Temporary Wage Subsidy Scheme (TWSS).
In a written Dail reply to Social Democrat co-leader, Catherine Murphy TD, Minister Donohoe stated that the top ten repayments ranged from €6m down to €1.4m and span various sectors of the economy .
Over 664,000 employees and 66,500 employers received €2.8bn in subsidies through the scheme which has since been replaced by the Employment Wage Subsidy Scheme (EWSS).
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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