The government has lost Rs. 12 billion revenue due to the smuggling of illicit tobacco, said Michael Korst Managing Director, Ceylon Tobacco Company.
Speaking at the AMCHAM luncheon meeting at Colombo Hilton yesterday he said this is only up to the first five and a half months of this year. The main culprits are organized gangs which smuggles illicit tobacco into the country.
Most of the Tobacco that is smuggled now is of Chinese origin. He said that due to high taxes by the government there is also a high production of low quality ‘beedi’.
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