ICAI welcomes higher limit for trans-Atlantic travellers

The Institute of Chartered Accountants in Ireland (ICAI) has welcomed a decision by the European Commission to increase the excise duty exemption for travellers into the EU from €175 to €500.

ICAI President, John Greely, said: "I think transatlantic travellers will be particularly pleased by this announcement.

"Shopping traffic to and from the United States in particular has grown in recent years and this move by the Commission, updating a threshold that has been in place since 1994, is both reasonable and overdue."