VAT cut

Drinks industry rejects Central Bank comments and calls for VAT reduction

‘Evidence based decision making rather than opinion is required’ Makhlouf scepticism on VAT rate reduction fails to consider the impact of a temporary VAT reduction on on-trade alcohol sales (in pubs, restaurants and hotel bars), according to the drinks industry Group seeks VAT rate reduction on sales of alcohol as temporary and targeted measure which …

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22,500 jobs at risk in drinks sector as pubs on track for 50% decline in business for the remainder of 2020

Economist Anthony Foley authors report on impact of Covid-19 on the drinks industry and analyses the effect of a reduced VAT rate on on-trade alcohol sales Report concludes that consumer demand will be lower after lockdown due to higher unemployment and reduced earnings while it will likely be 2023 before we reach pre-Covid labour market …

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