Smokers in Greece May See Cigarettes Almost Double in Price
Smokers in Greece are facing a significant increase in cigarette prices, with a projected 50% rise from the current average of €4.60 (around $5.30) to approximately €7.00 ($8).
This hike is a result of the European Commission's proposed tax reform, aiming to generate substantial tax revenue and align taxation with public health goals across the EU.
- The reform involves revising the Tobacco Taxation Directive (TTD) and introducing a new European levy (TEDOR).
- The goal is to modernize the EU's tobacco tax framework, which has not been significantly updated since 2011.
- The proposal focuses on raising the minimum excise duties on nearly all tobacco and nicotine products.
The European Commission's initiative seeks to bring taxation in line with public health objectives.
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Author's summary: Smokers in Greece face a 50% price hike.