Turkey Cigarette Sales Shrink on Taxes, Smuggling, Hurriyet Says

Counterfeiting of cigarettes and smuggling of the products to Turkey tripled in the first 10 months after the government increased sales taxes, Hurriyet said citing Philip Morris Turkey Chief Executive Turhan Talu.

The market for cigarettes in Turkey contracted by 15 percent as the taxes rose 29 percent, Talu said, according to the Istanbul-based newspaper.

Click here for web link

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.