Illicit trade flourishes during MCO
Japan Tobacco International believes the government loses RM5 billion a year in taxes due to the black market trade in cigarettes. – The Malaysian Insight file pic, July 1, 2020.
IT IS estimated that the black economy comprised about 25% of national trade last year and, according to Japan Tobacco International , the loss in tax revenue annually for the tobacco industry is roughly RM5 billion. JTI said that illicit trading has grown exponentially during the movement control order as organised crime gangs resort to creative online methods to ply their trade and reach end users.
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