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Nicotine is the problem

Thanks to tax breaks, the new products are also more profitable: BATs gross margins on Glo heated tobacco and Velo nicotine pouches are 78% and 70% respectively, compared with 67% for cigarettes

But make sure to remove any large batteries, e-cigarettes, or fragile items from your carry on before you gate-check to remain compliant

These recommendations would result in a tax system that is not only broad-based but also right-sized, applying once and only once to each product the market produces

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