That's according to a leading economist
The current Retail Export Scheme allows non-EU tourists to claim VAT refunds on quality Irish craft and gift items purchased in Cork.
However, a new Government Bill on Brexit, which is currently moving through the Oireachtas, will exclude all purchases under €175 from the scheme.
This means that a tourist in Cork will have to spend at least €175 on a single purchase to avail of a VAT refund.
Speaking to RedFM News, Economist Jim Power says adjusting the scheme will be detrimental to the local Cork economy:
'In the case of Cork last year in 2019, under the scheme there was around 9 million spent. And of that, 4.6 million was for transactions under 175 euros. So you can see there that that's 4.6 million spending, which is really important for the retail businesses that depend on tourists would be under significant threat in my view.'
