Revenue must consider VAT deferrals for SMEs affected by Coronavirus outbreak - Pearse Doherty
Sinn Féin spokesperson on Finance Pearse Doherty TD has written to Revenue and to the Minister for Finance requesting that a VAT deferral be given to small businesses and sectors affected by the Coronavirus outbreak.
Speaking today, Deputy Doherty said:
“Today I have written to both Revenue and to the Minister for Finance seeking clarity on the reliefs and supports to be provided for our SMEs, and our tourism and hospitality sector in light of the developing Coronavirus outbreak.
“Due to the shock already experienced to our tourism industry, growing numbers of small businesses across a number of sectors could face serious liquidity issues in the coming weeks and months.
“Sinn Féin welcomes the measures announced on 9th March, including a €200 million package in liquidity funding. However, it is essential that Revenue considers a wider range of measures to support small businesses at this time, especially in our hospitality and tourism sectors.
“While again I welcome the call for businesses to engage with Revenue if they are experiencing cash flow problems and difficulties in making timely tax payments, I have written to Revenue and to the Minister for Finance asking what specific measures have been taken to address cash flow problems and to request that a further suite of measures be considered.
“This includes a facility for affected SMEs to defer VAT payments for the next three months. These sectors employ thousands of workers throughout our State and are themselves a part of wider supply chains and services. It is important that they are given as much certainty as possible in the time ahead.
“This is a difficult time for our SME sector and an uncertain time for workers. It is essential that all that can be done is done to support workers and communities in the time ahead.”