14th Nov 2014 06:53
LONDON (Alliance News) - HM Revenue & Customs has fined British American Tobacco PLC GBP650,000 for oversupplying cigarettes to Belgium, the BBC reported on Thursday.
The fine is the first time HMRC has imposed a penalty on a company for supplying to areas considered a "high risk" for smuggling, the BBC added.
Belgium is considered a high risk country as cigarettes are sold significantly cheaper there in comparison to the UK due to lower taxes.
BAT said it will appeal the "unjustified" fine.
http://www.bbc.co.uk/news/business-30038328
By Sam Unsted; [email protected]; @SamUAtAlliance
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