COVID-19: Temporary Wage Subsidy Scheme – June 2020 Update

On the 5th June, 2020, the Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., announced the extension of the Temporary Wage Subsidy Scheme (TWSS) until 31 August 2020. The statistics published show that over 55,500 employers having already received subsidy payments under the TWSS representing over 551,800 employees totalling in excess of €1,589m.

The Revenue Commissioners, who administer the Scheme, have now announced a number of updates to the operation of the Scheme. Among these include many operational issues on how to elect out of the scheme, the changing of Tax Credit Certs to a Week 1 basis but it also includes some very important eligibility criteria for the scheme which Employers need to revisit and ensure they are eligible and that their documentation is in order. It also announces an Audit programme that the Revenue Commissioners will undertake on each Employer to ensure eligibility and outlining clawback of the benefit of the scheme in certain circumstances.

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