FDBusiness.com

Almost 70% of a Bottle of Irish whiskey In Ireland Goes to the Exchequer in Excise and VAT

 Breaking News

Almost 70% of a Bottle of Irish whiskey In Ireland Goes to the Exchequer in Excise and VAT

Almost 70% of a Bottle of Irish whiskey In Ireland Goes to the Exchequer in Excise and VAT
June 23
12:45 2015

Ireland’s high alcohol tax takes means that Ireland is now one of the most expensive countries in the world to buy Irish whiskey.

The latest data shows that in Ireland, almost 70% of the price of a bottle of Irish whiskey goes to the Exchequer in excise and VAT. This means that in many cases the total tax take on Irish whiskey in Ireland is higher than the total price of the product in the US.

The Support Your Local, which is backed by publicans, restaurants, hotels, independent off-licences and drinks suppliers across the country is urging the Irish Government to reduce alcohol excise in the next Budget, stating that the tax is bad for jobs, consumers and tourists. The main industry players have said that a strong home market is critical for new players to establish a foothold domestically.

Bart Storan, campaign manager for Support Your Local says: “The Irish whiskey industry is set to invest over €1 billion in Ireland by 2025. While Irish whiskey currently sells into 77 countries, the US is the largest export market, accounting for 46% of exports. However, players in the industry are now in a bizarre position where their product is now cheaper when sold abroad, with a bottle of whiskey now being sold for less in JFK airport than in Dublin airport.”

He adds: “These high prices not only prevent new players from establishing a foothold in our market but also prevent their brands from building a relationship with tourists as they simply think that they are being ripped off. While Irish whiskey tourism is on the up and expected to grow by over 60% by 2025, visitors may be shocked when they find they can often purchase two bottles of Irish whiskey at home for the price in Ireland.”


Warning: count(): Parameter must be an array or an object that implements Countable in /home/fdbusiness/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

[eventlist]

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements