What is e-Day
e-Day is the date from which central Government, local authorities and State agencies stop issuing and accepting cheques from businesses. e-Day is today, 19th September 2014. The particular focus of e-Day is to encourage SMEs to migrate from cheque usage. Cheques are an expensive means of payment for businesses because of bank charges, stamp duty, postage, time spent making lodgements, and unpaid cheques. Businesses are migrating away from cheque usage and opting for more efficient payment methods instead. e-Day will move this process along while reducing costs for businesses.
Mandatory electronic filing and payment
Revenue has introduced Regulations providing for the mandatory electronic filing, payment and repayment of certain taxes as part of a strategy to establish the use of electronic channels as the normal way of conducting tax business. Currently the vast majority of Revenue’s business customers have been brought into the mandatory regime.
There has been a significant reduction in business cheques received and issued by Revenue over the past number of years. This has accelerated with the phased implementation of mandatory efiling and payment.
Alternative to cheques and cash
Revenue provides an extensive range of alternative payment methods to cheque and cash. The online payment methods include direct debits, single debit instructions, debit card and credit card. Payment by credit card by telephone is also available. Refunds are processed electronically direct to customers bank account.
Business customers currently using cheques
Coinciding with e-Day Revenue is actively promoting the use of alternatives to cheque payments as outlined above. Those business customers currently paying or receiving refunds by cheque are advised to prepare for e-Day. ROS customers can nominate bank accounts for payments and refunds by selecting the “Manage Bank Accounts” option on their My Services tab. Alternatively business customers can contact ROS Payment Support Unit at 1890 226 336 to discuss payment solutions with the Revenue Commissioners.