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Commissioners of Revenue must expedite the payment of wage subsidies to employers under the Employer Wage Subsidy Plan.
The measure can help businesses with cash flow difficulties.
The Government had already announced an increase in the subsidy rates, which range between 151.50 and 350 euros. The previous maximum had been € 203.
However, employers had complained of cash flow problems because there was a six-week window to receive payment, compared to 48 hours for the previous Temporary Wage Subsidy Plan.
The Revenue has now announced that instead of paying subsidies one month late, the first EWSS payments against November payroll will be made in early November, instead of December 5.
Subsequent November payments will be paid after receiving a payroll submission containing a claim from EWSS.
“This means that EWSS will be paid on a similar basis to the Temporary Salary Subsidy Plan (TWSS), which will provide a significant positive boost to cash flow for companies,” the Income statement read.
The new arrangements will apply to payroll filings beginning October 20, 2020.
In the future, the EWSS will also be available to companies forced to close due to Level 5 restrictions, but who keep their employees on the payroll.
“The combination of increasing subsidy rates and EWSS payments as close to ‘real time’ as possible after receiving the relevant payroll submissions will allow employers, to the extent possible, to maintain very important links with your employees through this difficult period and be prepared for when business levels begin to resume, “Revenue Commissioners said in a statement.
Revenues confirmed that to date, 39,300 employers have registered for EWSS. Revenues have paid 257 million euros to 33,100 employers compared to 344,100 employees for September EWSS claims.
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