Smokers in Greece May See Cigarettes Almost Double in Price
Smokers in Greece are facing a significant price increase, with the cost of a pack of cigarettes projected to rise by 50%.
The current average price of a pack of cigarettes is around €4.60 (approximately $5.30), but this is expected to jump to around €7.00 ($8). This potential hike is a consequence of a massive tax reform proposed by the European Commission.
- The tax reform aims to bring in substantial tax revenue.
- The reform also seeks to align taxation with public health goals across the EU.
The initiative involves revising the Tobacco Taxation Directive (TTD) and introducing a new European levy (TEDOR) to modernize the EU’s tobacco tax framework, which has not been significantly updated since 2011.
The core of the Commission’s proposal centers on significantly raising the minimum excise duties on nearly all tobacco and nicotine products.
Author's summary: Smokers in Greece face a 50% price hike.