Ireland's Alcohol Excise Duty Second Highest In The EU
Ireland's alcohol excise duty is the second highest in the EU, according to a recently published report, ‘Tax on Alcohol in Europe: Where Does Ireland Rank? The report which commissioned by the Dri...
Ireland's alcohol excise duty is the second highest in the EU, according to a recently published report, ‘Tax on Alcohol in Europe: Where Does Ireland Rank?
The report which commissioned by the Drinks Industry Group of Ireland (DIGI), also said that Ireland has the second highest excise duty (a specific tax levied per unit of alcohol in a drink) on beer, the highest wine excise, and the third highest spirits excise (behind Finland and Sweden) in the EU.
The report’s author and DCU economist Tony Foley outlined: "When compared with the rest of the EU, Ireland’s alcohol excise duty is very high across all drinks categories; only Finland ranks ahead of us. Put another way, Ireland’s alcohol excise duty is 150% higher than 24 of the other 27 EU member states. Combined with VAT and retail price, this means alcohol is comparatively more expensive in Ireland than it is in many other European countries."
According to Maggie Timoney, Chair of DIGI and managing director, Heineken Ireland, Ireland’s excise tax is ‘an anti-competitive tax on one of Ireland’s largest employers and risks Ireland becoming less attractive to investment and overseas visitors.’
“Ireland’s drinks industry and hospitality sector play a critical role in Irish tourism, with the sector credited among the major attractions for overseas visitors. Post-Brexit, British tourist numbers dropped by 55,300 in the period January 2017—March 2017 compared to the same period in the previous year. We are dependent on British tourism with more than 40 percent of all visitors to Ireland originating in the UK. In a post-Brexit environment which is uncertain, we need to invest in sectors which draw tourists to ensure we remain attractive over other, more affordable destinations," Maggie Timoney said.
© 2017 - Checkout Magazine by Donna Ahern