€1.3/Bn Lost Every Year Across The Eu Due To Fake Spirits And Wine

A new report from the EU Intellectual Property Office (EUIPO) shows that 4.4% of legitimate sales of spirits and 2.3% of legitimate sales of wine are lost each year due to counterfeiting of alcoholic drinks. Those lost sales translate into 4800 jobs directly lost across the spirits and wine sectors in the EU, as legitimate manufacturers employ few people than they would have done int he absence of counterfeiting. When the knock-on effects of counterfeit wines and spirits are taken into account, 18,500 additional jobs are lost in the EU economy, of which notably 8600 are lost in agriculture, and 1300 jobs lost in the food industry. The total annual loss of government revenue as a result across the EU-28 in terms of household income taxes, social security contributions, corporate income taxes, VAT and excise duties is estimated to be around €1.3/BN. To download a copy of the report, please visit: https://euipo.europa.eu/tunnel-web/secure/webdav/guest/document_library/...