Finance Act 2024
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Amendment of section 28D of Emergency Measures in the Public Interest (Covid-19) Act 2020 (Covid-19: special warehousing and interest (relevant tax due under section 28B(11))) | ||
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108. Section 28D of the Emergency Measures in the Public Interest (Covid-19) Act 2020 is amended— | ||
(a) by the deletion of subsection (6), | ||
(b) by the substitution of the following subsection for subsection (7): | ||
“(7) Where— | ||
(a) this section applies to an employer, | ||
(b) the employer complies with the employer’s obligations under the Acts, | ||
(c) the employer has— | ||
(i) before 1 May 2024, engaged with the Collector-General regarding the employer’s liability in respect of Covid-19 relevant tax with a view to entering into an agreement to pay that liability, and | ||
(ii) entered into an agreement referred to in subparagraph (i), whether before or after 1 May 2024, | ||
and | ||
(d) the employer complies with the obligations of the employer under the agreement entered into as referred to in paragraph (c)(ii), | ||
no interest shall be due and payable by the employer in relation to the employer’s liability in respect of Covid-19 relevant tax during Period 1, Period 2 and Period 3.”, | ||
and | ||
(c) by the substitution of the following subsection for subsection (8): | ||
“(8) Where an employer— | ||
(a) at any time during the period beginning on the first day of Period 1 and ending on 30 April 2024 fails to comply with the employer’s obligations under the Acts, | ||
(b) is not an employer to whom subsection (7)(c) applies, or | ||
(c) on or after 1 May 2024— | ||
(i) fails to comply with the employer’s obligations under the Acts, or | ||
(ii) fails to comply with an obligation referred to in subsection (7)(d), | ||
simple interest shall be paid by the employer to the Revenue Commissioners in relation to any amount of the Covid-19 relevant tax remaining unpaid on— | ||
(I) in a case to which paragraph (a) or (c) applies, the date on which the event resulting in failure to comply with the obligation concerned occurred, and | ||
(II) in a case to which paragraph (b) applies, 1 May 2024, | ||
and such interest shall be calculated from— | ||
(A) in a case to which paragraph (a) applies, the date on which the event resulting in failure to comply with the obligation concerned occurred, | ||
(B) in a case to which paragraph (b) applies, the first day of Period 3, and | ||
(C) in a case to which paragraph (c) applies, 1 May 2024, | ||
until payment of the amount for any day or part of a day during which that amount remains unpaid, at a rate of 0.0219 per cent.”. |