British American Tobacco (BAT), the world’s second-largest tobacco company, has been fined £650,000 (R11.2 m) by UK tax authorities for its alleged role in facilitating cigarette smuggling into Britain. Britain’s HM Revenue & Customs (HMRC) slapped the fine on BAT for “oversupplying” cigarettes to Belgium. Oversupplying means that the volume of cigarettes
The excise tax on a pack of 20 cigarettes increased by a disappointing 68 cents in today’s budget. This modest hike means that the Treasury has once again spurned the opportunity to: reduce smoking amongst youth, save lives, and generate revenue. The Council favoured a doubling of the announced excise tax increase.