Pricey cloud of smoke over BAT
The Wall Street Journal reported last week that the British tax authority, Her Majesty’s Revenue and Customs (HMRC), had hit BAT with a £650000 (R11.2-million) fine for oversupplying cigarettes into the Belgian market.Because tobacco products in Belgium have a lower tax rate, the practice has meant the surplus can be smuggled back to the UK, according to the paper.This is the first time the UK tax authority has penalised a major cigarette producer for the “oversupply of products to high-risk overseas markets”, according to documents seen by Wall Street Journal staff.
Related Posts
Salesman arrested for counterfeit goods
The Abu Dhabi Police have arrested a salesman for dealing in women’s bags...
Del. Krupicka seeks big increase in cigarette taxes
File this in the “probably not going far in 2015” category: Del. Rob Krupicka...
Liquor worth Rs 17 lakh seized from truck
SURAT: The detection of crime branch (DCB) on Tuesday seized Indian Made Foreign...
Dominican Republic Pays Cost Of Rum Smuggling
As reported by Dominican Today, the country’s industry and commerce minister José...