Tobacco smuggling burns hole in the revenue’s tax take
An increase in smuggling and the ban on displaying tobacco products in shops has led to a substantial decline in Treasury duty revenues.
According to Revenue & Customs, tax revenues in the 2015-16 tax year fell by almost 1 per cent, from £9.55 billion to £9.48 billion, while revenues from March to May this year fell by 3.5 per cent to £2.38 billion.
Tax on cigarettes has been rising at 2 per cent above inflation since 2010 to cut smoking rates and improve health.
http://www.thetimes.co.uk/article/tobacco-smuggling-burns-hole-in-the-revenue-s-tax-take-zfm36gbxp
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