Cartels stand to capitalize as Mexico eyes big tobacco tax hike
The Mexican Senate is considering a bill to increase the tobacco tax, arguing that it would improve health by discouraging use and increase the government’s bank account. It could also fill the accounts of some of Mexico’s major cartels. Experts say the cartels have a significant hand in Mexico’s black market for cigarettes and stand to gain an even bigger share from the tax. President Claudia Sheinbaum has called for raising Mexico’s ad valorem tobacco tax from 160% to 200%. The per-cigarette quota tax would nearly double by 2030. The inevitable result would be a bigger black market for cartels to exploit, said. Continue reading Cartels stand to capitalize as Mexico eyes big tobacco tax hike