Revenue Plummets in Latvia as Prices Rise

Source from:  Tobacco Reporter 11/24/2009

Latvia's tobacco excise revenue during the first nine months of this year, at Lats89.65 million, was down by 18 per cent on that of the first nine months of 2008, according to a Baltic Business Daily story quoting the State Revenue Service. The drop in revenue occurred after prices surged and the number of cigarettes released for sale fell by 39 per cent. Smokers living close to borders were said to have traveled to neighboring countries to buy their cigarettes, while many others supported the illicit trade. Enditem