WHO imposes Rs 250-cr tobacco tax on India
MUMBAI: DECEMBER 31, 2011:- The World Health Organisation (WHO) has imposed a Rs 250-crore tax on India, for non-compliance of the Framework Convention on Tobacco Control (FCTC) by the WHO.| < Prev | Next > |
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The tobacco industry is already paying a damage of over 250 billion US$ to all 50 states of US of A. The Global Settlement Agreement was a first attempt at a settlement between the state attorneys general and the tobacco companies. The settlement included a payment by the companies of $365.5 million, agreement to possible Food and Drug Administration regulation under certain circumstances, and stronger warning labels and restrictions on advertising. In exchange the companies would be freed from class-action suits and litigation costs would be capped. The agreement was reworked and as a result the tobacco industry is paying nearly 250 billion US dollors in damages to all the 50 States of USA as agreed under the "Master Settlement Agreement." |