IMPERIAL BRANDS PLC 27 August, 2015
We've signed a Memorandum of Understanding with the Latvian State Revenue Service to jointly tackle increasing illicit trade.
KPMG's latest 'Project Sun' report reveals that Latvia had the highest proportion of illicit trade in the EU last year, accounting for over 29% of total consumption and costing their Treasury €80 million in lost tax revenues.
The Agreement is the first to be signed between the Latvian authorities and a tobacco company and it creates a framework for sharing intelligence and driving effective action against the criminals.
Latvia is a major transit country for illicit tobacco, with significant amounts of Russian and Belarusian contraband passing through on its way to countries such as the UK and Ireland.
Reimund Ameskamp, Imperial's General Manager Northern Europe, was present at the signing ceremony. He said: "This Agreement demonstrates Imperial's continuing commitment to co-operating with global authorities to prevent illegal tobacco products from finding their way onto the legitimate market."
(Pictured are Inara Petersone, Director General of the Latvian State Revenue Service and Fedor Zhavaronkov, Senior Anti-Illicit Trade Manager, Imperial Tobacco at the signing ceremony)
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