Local March 23, 2015 | 4:49 pm

Rum and cigarette smuggling cost Dominican Gov. US$45.5M

Santo Domingo.- fake rum and cigarette smuggling cost Dominican Republic’s coffers around RD$2.0 billion (US$45.5 million) in 2014, revealed Monday Industry and commerce minister José del Castillo during the launch of the Campaign Against Tax Evasion, Smuggling, Counterfeit Alcohol and Tobacco .

He said manufacturing and illegal coomerce in rum and cigarettes which evade taxes, are adulterated, smuggled or of dubious origin, reveal a trend that he affirms require attention. “It’s time to revert it before it becomes uncontrollable.”

He said the illegal activity has harmful consequences for the government, retailers, formal productive sector and citizens.

Del Castillo said the problem jeopardizes tax revenue, to the point that the State loses out on billions of pesos each year, with around RD$2.0 billion just in 2014.

Dominican Republic Industries Association (AIRD) president Campos De Moya also spoke in the activity held in the Hotel Embajador, among others.

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