Tobacco company, Philip Morris South Africa (PMSA) has welcomed Finance Minister Tito Mboweni’s March 2020 deadline for a major South African Revenue Services (Sars) study into the extent of illicit trade. Illegal trade in cigarettes alone has cost South Africa over R40-billion in tax revenue since 2010, according to the Tobacco Institute of Southern Africa. Overall, South Africa reportedly loses R1-trillion a year, or 20% of gross domestic product, to the illicit economy, with proceeds generally used to fund drug smuggling, human trafficking and other serious crimes.