Taking the fight to cigarette smugglers
The financial impact of contraband and counterfeit cigarettes due to unpaid customs duties as well as unpaid taxes such as value added taxes and excise duties is immense: 10 billion EUR, some figures indicate up to 12.5 billion EUR that are lost to national and EU budgets each year. Smuggling does not only concern counterfeit but also genuine cigarettes that are smuggled into the European Union (EU). A single container of smuggled cigarettes causes an average loss of customs duty and value added tax of about 1.5 million EUR. The financial damage for countries with higher taxes on tobacco products such as the United Kingdom is even more severe.
http://www.neurope.eu/blog/taking-the-fight-to-cigarette-smugglers/
Related Posts
Fake AirPods and Cartier Bracelets Totaling $5.3 Million Seized by Cincinnati CBP
CINCINNATI–-On May 13th, U.S. Customs and Border Protection (CBP) officers in...
Hampton Beach shop owners arrested for selling counterfeit goods
HAMPTON – Three Hampton Beach shop owners were arrested Tuesday for selling...
90% hike in smuggled cigarette consumption in India: FICCI
Consumption of smuggled cigarettes has increased by over 90 per cent, equivalent...
Hyderabad police busts fake currency printing gang, Rs 16 lakh seized
The City police on Thursday busted a fake currency printing gang and arrested...