Smokers in Greece Face Significant Price Hike
Smokers in Greece may see the cost of a pack of cigarettes jump by 50%, from approximately €4.60 to €7.00.
This potential hike is due to 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 hasn’t been significantly updated since 2011.
The initiative seeks to significantly raise the minimum excise duties on nearly all tobacco and nicotine products.
Author's summary: Smokers in Greece face a 50% price hike due to EU tax reform.