Smokers in Greece Face Significant Price Hike
Smokers in Greece are facing a potential price increase of 50% for a pack of cigarettes, from €4.60 to approximately €7.00.
This hike is a result of a proposed tax reform by the European Commission, aiming to increase tax revenue and align taxation with public health goals.
- 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 minimum excise duties on nearly all tobacco and nicotine products.
The initiative seeks to bring in substantial tax revenue while aligning taxation with public health goals across the bloc.
Author's summary: Smokers in Greece may face a 50% price hike due to EU tax reform.