FORMAL disputes proceedings at the World Trade Organisation between Chile and Peru over a new Peruvian tax regime for cigarettes have been shelved, following the striking down of the tax by the Constitutional Court of Peru.

In a ruling with no appeal, Peruvian judges backed an application by the British American Tobacco Co, which claimed that the tax "granted preferential treatment to a category of cigarettes."

It levied higher charges for brands sold in three or more countries, causing Chile to claim that its exported ...

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