High ICMS cigarette will double contraband, says Souza Cruz
With the proposal sent by the São Paulo government to increase the ICMS (Tax on Circulation of Goods and Services) for cigarettes, the President of Souza Cruz in Brazil, Andrea Martini, estimates that the volume of cigarettes smuggled in the state should at least double and the consumption is expected to increase in the middle class.
Source: Folha UOL (17/11)