Tax evasion due to smuggling of foreign-made cigarettes
Mizoram Chief Minister Lal Thanhawla said that huge tax evasion was suspected due to the smuggling of foreign-made cigarettes to Mizoram and immediate action was required to put an end to it.
Thanhawla was quoted by anofficial statement as saying the smuggling of cigarettes from neighbouring countries are carried out in a “hawala-like racket”, the statement said.
The government, he said, has been contemplating hiking of taxes on cigarettes and other tobacco products.
http://www.easternmirrornagaland.com/tax-evasion-due-to-smuggling-of-foreign-made-cigarettes/
Lear MoreWarning issued over fake alcohol health risks
In recent years, Northern Ireland has developed a reputation as the counterfeit capital of the UK – and worryingly, fake alcohol forms part of this scene.
Today, the FSA in NI is warning of the harmful effects of fake alcohol and urging the food and drink industry to be aware of the signs of illegal produce.
FBR to unveil rules to check counterfeits’ trade
KARACHI: The Federal Board of Revenue is unveiling new intellectual property rights rules in order to curb trade of counterfeit products in the country. The rules will apply to goods meant for import or export to and from Pakistan, which infringe the intellectual property rights registered or protected in Pakistan relating to trademarks, copyrights, patents, industrial designs and lay-out designs of integrated circuits.
http://www.thenews.com.pk/print/123499-FBR-to-unveil-rules-to-check-counterfeits-trade
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Customs intercept smuggled generators, frozen poultry
The Headquarters Compliance Team, Ogun Axis, had intercepted a truck loaded with 1,533 cartons of smuggled generators. Similarly, the team in another operation intercepted a bus along the Sagamu-Ijebu-Ode Expressway, laden with 542 cartons of foreign frozen poultry products.
http://dailypost.ng/2016/05/29/customs-intercept-smuggled-generators-frozen-poultry/
Lear MoreHow to spot a fake Louis Vuitton or chanel
The pre-owned luxury market is a fast growing phenomenon in India. It’s given a wide platform for the buyers to pick and choose from more than 100 international brands at reasonable prices. However, sometimes there are hesitations before owning a pre-owned luxury product.
Social media boosts luxury goods counterfeit economy
A new study, Social Media and Luxury Goods Counterfeit, reveals that around a fifth of all items tagged as luxury goods on Instagram are actually fakes. The trend illustrates how the social media platform is contributing to the explosion of the internet’s counterfeit economy, which uses a system of online tools to ship illegal goods around the globe.
Social media – specifically Instagram – represents an important link in the complex chain of the counterfeit economy, which takes a $US29 billion bite out of the luxury goods sector each year, according to the study.
Agri stakeholders hail new anti-smuggling law
A coalition of agriculture stakeholders hailed the signing of Republic Act 10845 or “An Act declaring smuggling of agricultural commodities as economic sabotage.
Under the new law, the amount of smuggled agricultural product subject to economic sabotage is equal or more than Php10 million for rice, and equal or more than Php1 million for other agricultural products such as sugar, corn, pork, poultry, garlic, onion, carrots, fish and cruciferous vegetables.
Smugglers and their cohorts will also face a penalty of life imprisonment and a fine of twice the fair value of the smuggled agricultural product and the aggregate amount of the taxes, duties and other charges avoided.
Nixa woman sold more than $80 million of Chinese counterfeit cellphone products
A Nixa woman pleaded guilty to selling more than $80 million worth of counterfeit cellphone products. The products were represented by Flash Technology, LLC — which is also known as Flash Tech — to be made by companies like Apple, Samsung, Nokia, Microsoft and more.
Coalition Congratulates Anti-Contraband Enforcement Unit on First Major Bust
OTTAWA: The National Coalition Against Contraband Tobacco (NCACT) congratulated New Brunswick’s new Contraband Tobacco Enforcement Unit on its first major arrests. The unit announced it had seized almost 170,000 cigarettes in Fredericton following a two-week investigation.Contraband Tobacco is a growing problem in New Brunswick, and the province estimates it loses $13 million annually in lost tax revenues to the trade.