Businesses are being urged to register now for the Covid Restriction Support Scheme (CRSS) on Revenue's ROS site. The new scheme was launched today.
Under the CRSS, a business that is impacted by Covid-19 related restrictions - including closure - can make a claim to Revenue for a payment for each week that it is affected by the restrictions.
The payment is subject to a maximum of €5,000.
Revenue have said that over 3,853 businesses have already registered nearly 4,160 premises for the new scheme.
Details of the proposed Covid Restrictions Support Scheme (CRSS) were published in the Finance Bill.
To qualify under the scheme, a business must be able to show that because of the Covid restrictions, its turnover is no more than 25% of an amount equal to the average weekly turnover of the business in 2019 - or the average weekly turnover in 2020 in the case of a new business.
The scheme will operate from October 14 to March 31, 2021 and will generally operate when Level 3 or higher is in place and will cease when restrictions are lifted.
There is provision for the Minister for Finance to vary aspects of the scheme.
Launching the CRSS today, the Finance Minister said he was confident the scheme will provide much needed support to businesses that have had to close as a result of the Covid curbs.
"With the recent change to Level 5 throughout the country, this means many more businesses have had to temporarily close and this scheme is designed to provide targeted and timely assistance," Paschal Donohoe said.
"We understand the difficulties businesses and individuals are facing and this measure is just one part of the Government's supports, which also include the wage subsidy schemes and temporary reduction in the VAT rate," he added.
Paschal Donohoe also said today that specific sectoral schemes are being rolled out which will support many businesses that may not qualify for CRSS.
Paschal Donohoe also said the Government's decision on the duration of Level 5 restrictions until December 1 still stands.
The Minister said that if the data shows that the disease is moving to a more stable place, the Government would do all it can to give businesses time to organise themselves.
He said there are clear signs that the Level 3 restrictions combined with the Level 5 are is having an effect on the spread of the disease within the country.
Mr Donohoe said the Government would evaluate the data and form a view about the appropriate exit strategy from the restrictions.
But he said it was too early to say how the country would exit the restrictions.
The Finance Minister said the Government was deeply conscious of the economic and personal cost of the restrictions, but he added that they were in there to ensure that we are in a different place with the disease by the end of the year.
Mr Donohoe said he understood the calls being made by retailers to provide clarity to them on conditions beyond Level 5, but he said the Government had a duty to the health of the country as well as the economic health of the country.
Media, Tourism, Arts, Culture, Sport and the Gaeltacht Minister Catherine Martin said that ensuring the country's tourism and arts sectors have the supports to help them survive the pandemic is a key priority for Government.
"It is vital these businesses continue operating and are ready to reopen their doors to help in our recovery, when the time comes," Ms Martin added.
