British American Tobacco (BAT) Fined €107 Million for Tax Evasion

A Dutch court has ordered British American Tobacco (BAT) to pay €107 million (approximately $117 million) in fines, according to Reuters. The court stated that BAT underreported profits by €1.8 billion between 2013 and 2016, thus requiring payment of taxes for that period.

The North Holland District Court noted in the summary of the ruling: "The vast majority of the fine is due to intentional inaccuracies in tax declarations as the company's activities were transferred to the UK."

BAT expressed "disappointment" over the decision and stated that it is considering an appeal.

BAT stated: "BAT complies with all applicable tax laws in all markets where we operate."

In April of this year, BAT agreed to pay $635 million to U.S. authorities. Its subsidiary pleaded guilty to charges of conspiring to violate U.S. sanctions by selling tobacco products to North Korea and participating in bank fraud.