The Restaurants Association says food businesses have been faced to either 'erode their competitiveness or take a 4.5% hit to the bottom line'
The Restaurants Association says food businesses have been faced to either "erode their competitiveness or take a 4.5% hit to the bottom line"More than 570 restaurants, cafés and other food-led businesses have closed in Ireland since the Government hiked hospitality VAT last September.
It said the decision forced many to close their doors – insisting a large number would still be open if the lower VAT remained in place.A total of 45 restaurants, cafés and other food businesses ceased trading in July alone.In a recent survey, 74% of RAI members said they believe they will have to close their businesses if the VAT rate is not restored to 9%.
"While the pace of closures has slowed slightly during the summer compared to the tsunami we witnessed at the beginning of the year, this was expected," he said.
Adrian Cummins Budget Budget 2025 Hospitality VAT Rate RAI Restaurants Restaurants Association Of Ireland VAT Rate
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