Australia Losing $1B To Tobacco Black Market, KPMG Says

By Ama Sarfo (November 6, 2013, 7:47 PM EST) -- Australia is losing AU$1 billion (US$953 million) per year in tobacco excise revenue due to a jump in black market sales fueled by high taxes that have been increasing for several years, according to a KPMG LLP report released Monday....

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