Counterfeit alcohol costs UK £1.2bn a year
Counterfeit alcohol costs UK £1.2bn a year
Nov 14, 2012 6
(TheDrinksBusiness) - A study from the Institute of Economic Affairs (IEA) estimates that counterfeit alcohol is costing the Treasury £1.2 billion every year.
As the problem of counterfeit alcohol increases the report says that the UK is losing more money to “the cross-border movement of alcohol than any other EU state.”
The IEA also blamed high duties for the surge in fake alcohol, adding that factors which lead to an increase in counterfeiting include, “high taxes and social security payments, low tax morale, complex tax systems, low Gross Domestic Product, weak institutions and corruption.
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