
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
BASF Introduces New Anti-fake Technology to Tackle Counterfeit Crop Protection Products in China
In China the company is introducing an innovative product label that features an...
Customs Dept seizes smuggled cigarettes worth RM7.25m in Port Klang.
The Royal Malaysian Customs Department seized 9.7 million cigarette sticks...
FICCI CASCADE holds seminar on counterfeiting and smuggling hazards.
27, September 2018 | Daily Pioneer Committee Against Smuggling and...
Raising federal cigarettes taxes won’t end smuggling between states
The Aug. 3 editorial “Closing a loophole” had its heart in the right place but...