Smokers in Greece Face Drastic Price Increase
Smokers in Greece may see the cost of a pack of cigarettes increase by 50%, from approximately €4.60 ($5.30) to €7.00 ($8).
This potential 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 centers on raising the 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 face a 50% price increase due to EU tax reform.
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