Over €14M Owed By Clare Businesses To Revenue

Photo (c) jordan_rusev from Getty via Canva.com

Revenue is owed over €14m in warehoused debt from businesses in Clare.

Under the scheme, companies experiencing cashflow issues during the pandemic were able to defer repayments by entering into phased pay arrangements.

A newly published report from the Revenue Commission shows that 234 Clare businesses have entered such an arrangement and will repay over €12.4m throughout the next five years.

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149 Businesses in this county failed to engage with revenue before the May 1st deadline though and have since been escalated to enforcement proceedings, with over €2.1m to be paid collectively at interest rates of between 8% to 10%.