Small business welcome Revenue assistance to help with cashflow difficulties

Friday, 13 March 2020

Commenting on the news that Revenue has introduced measures to assist small businesses experiencing cashflow difficulties due the COVID-19 outbreak Sven Spollen-Behrens, Director of the Small Firms Association (SFA) said: “We are pleased that Revenue has taken steps to assist small business owners and the self-employed to react to the emerging cashflow crisis hitting our small business community.

“This evenings announcement from Revenue and the wide range of measures announced earlier this week by government will provide support to Ireland’s 267,000 small business during this difficult trading period. However, considering the increasing number of cases of COVID-19 and the measures announced yesterday to interrupt the transmission, we are asking Government to take further steps to support Ireland’s small businesses which employ more than 750,000 people – half of the private sector workforce".  

SFA additional supports include:
  • Ensure that all announced available Government supports are easy to access and that no unintended regulatory issues arise.   
  • Introduce a moratorium on payments which business makes to the State.   
  • Reduce the lower rate of employer PRSI.   
  • Reintroduction of the 9% VAT rate for qualifying sectors for the remainder of 2020.