International Tax and Investment Center Bringing in Uniformity in Trade of Tobacco

August 1, 2016

A sector or an industry can only flourish when the entrepreneurs understand its significance and even when they get cooperation from the governments to run smoothly. If a business today is running smoothly, then it is due to the cooperation that exists between them and the country. There are companies that wish to explore new avenues and in case their products are going to help the country’s revenue then there is no fear whatsoever.

Tobacco is a product that is like cigarette and which draws plenty of customers worldwide. Though there are quite a few number of producing countries around the world, only a few of them are successful. The countries that are making a good amount of money in revenue from the tobacco are seeing to it that these companies pay their taxes well and in time.

It is the responsibility of both the government and the entrepreneurs to ensure that they follow all the rules and ethics to the T and work diligently. If they evade taxes then they may assume that they are fooling the government or the country.

Nevertheless, in that quest, they may end up on the blacklisted company list any time soon. Further, there are issues of black marketers. As per the study by International Tax and Investment Center, Tobacco is a product that gets plenty of demand and hence, is one of the most sought-after items in the black market. People see the brand name and the country and then buy the products like tobacco for their cigar or pipes. But the black marketers might try to get fake products and put the fake logo or brand sticker of the reputed brand and even sell these at high prices. Customers might end up buying inferior quality products.

This said, these fake products might just have the duplicate copy of the cover and packaging but they may not have the chemical composition of the tobacco. This is what International Tax and Investment Center wants to keep check on and encourage honest business environment.

Actually getting an honest business is a difficult tasks but then it all boils down to the entrepreneur, and whether he shall be able to go ahead with it with total integrity. Whether he is doing business in tobacco or any other product, he should know the differentiation between doing business in the right way or the wrong. He should try to follow the product manufacturing rules, business transaction related rules, tax rules, and follow all the trade rules before he sells them. When a company does not pay these duties or follow these rules, it is not just doing harm to the government but also to the entire environment of business.

As per International Tax and Investment Center Tobacco is a lucrative sector. It shall be able to offer a lot more than it is doing even now and that is only possible if investors become pleased with the potential and the great turnovers that a healthy environment shall bring.