EU, Philip Morris near deal on cigarette smuggling

EU, Philip Morris near deal on cigarette smuggling    The European Union and Philip Morris International issued statements last week confirming they are working together on a plan to combat illegal cigarette smuggling and counterfeiting.
   According to the Washington Post, Philip Morris could agree to pay almost $1 billion over 12 years to help pay for a database and other measures to help customs officers track the movement of cigarettes and governments collect taxes. The pending agreement stems from a lawsuit filed by the EU claiming that several cigarette companies ship excess amounts of cigarettes to low-tax countries, knowing that they will then be smuggled into high-tax countries and sold on the black market.
   Philip Morris and the EU claimed the money was to help clamp down on the growing criminal activity, and should not be considered a fine or penalty.