An estimated €1.3 billion in VAT and excise duty will be lost to State coffers over the next two years because of contraband cigarettes, an industry review has said.
The Illicit Tobacco Trade Annual Review 2009, published yesterday by tobacco company JTI Ireland, said: “These illegally acquired funds . . . are used to fund further criminal activity such as gun crime, drug and human trafficking.”
This year, an estimated €629 million will be lost.
