Black Marketing of Cigarettes in UK up
A report released lately by KPMG has revealed that one in almost every six smoked cigarettes in the UK is illegally bought.
Marlboro owner Philip Morris International, a tobacco firm, had commissioned the study. The firm is one of those companies that have been campaigning in opposition of plain packaging of cigarettes. These firms are of the opinion that the introduction of this strategy would instead of reducing the number of smokers, boost illegal trade.
According to the report, around 16.4% of the UK market was contributed by illicit cigarettes in 2012. The EU average was less than the same at 11.1%, when compared. It has also been found that the UK black market was the fastest-growing in the EU.
Illicit cigarette sales were noted to have increased nearly by 10% than a year before. Besides, it was the sixth year in a row that the black market had grown.
It is being said that the Treasury faces loss in tax revenues and billions are cost to it. The total tax losses were noted at _12.5bn (£10.7bn) across the EU.
"In the midst of the economic crisis and budget deficits, illegal cigarettes continue to plague Europe, costing member states billion in lost taxes", avowed Philip Morris's Artyom Chernis.
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