Imperial Tobacco agreed to help the State Revenue Service combat illicit trade in tobacco products, which at nearly 30 per cent of the market is the highest in the European Union, the company said.
A Memorandum of Understanding, the first between a tobacco company and Latvian authorities, creates a framework for sharing intelligence and driving effective action, Imperial said. KPMG’s latest Project Sun data on illicit tobacco trade in the EU estimates Latvia loses EUR 80 million (USD 92 million) in annual tax revenue. The country is a major transit route for illicit tobacco enroute to destinations such as the UK and Ireland from factories in Belarus and Russia, Imperial said.
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