
BAT fined for oversupplying tobacco in low-tax European jurisdictions
£650,000 penalty from HMRC reflects growing concern that surplus is finding its way back to the UK illicitly. Big tobacco, long accused of complicity in smuggling, is under close scrutiny as it emerges that one of the world’s largest cigarette firms has been fined for oversupplying foreign markets.
The practice of flooding low-tax foreign markets with more tobacco than they are capable of consuming has sparked concerns that much of the product is able to find its way back into the highly taxed UK without HM Revenue and Customs receiving its due share. Anti-tobacco campaigners claim such abuse of the UK tax system is rife and believe that a fine imposed on British American Tobacco (BAT) is merely the tip of the iceberg.
Related Posts
Interpol: Organized crime, aware of weak points, targets counterfeit drugs
Organized crime has moved into selling counterfeit and compromised prescription...
More than 88,500 cases of smuggling in first half of the year
HÀ Ná»�I — In the first six months of 2017, authorities uncovered 88,560 cases of...
WATCH: Counterfeit goods worth R1bn worth of seized at Durban harbor
What a massive coup. Police have nabbed counterfeit goods with a staggering value...
Investigation into illegal electronics smuggling ends in arrest of two Russians and a Brooklyn man
Federal agents arrested two Russian nationals and a Brooklyn man with dual...