The dollars are not theoretical
the Westlock seizure report describes more than 29.5 million unstamped cigarettes, a value just over $30 million, and nearly $10 million in unpaid taxes. Alberta tax guidance says contraband tobacco seizures must be reported under section 24.2 of the Tobacco Tax Act.
A stronger model already exists
Alberta financial-law guidance says recent Tobacco Tax Act changes introduced fines for contraband tobacco products equal to three times the tax normally paid on legal tobacco and require law enforcement to report seizures of illegal tobacco to Treasury Board and Finance.
The Bill 208 question
If a new restriction shifts more consumer demand away from licensed and taxable channels, the province risks weakening the same tax base that funds schools, health care, and enforcement. The review should explain how it prevents that outcome before advancing.