Below-cost alcohol ‘budgetary issue’

The Department of Finance has said it is up to its minister in the budget to decide whether or not to address concerns over millions of euro being returned to supermarkets for selling below-cost alcohol.

The remarks come after a TD and groups urged the Government to close off a legal loophole which allows retailers to reclaim a Vat refund on the difference between the cost price and the actual below-cost sale price.

Fine Gael TD Michael Creed reiterated comments yesterday that the exchequer was “raped on an annual basis to the tune of €21m” refunding supermarkets.