Greece

Higher excise taxes on alcohol and tobacco are forcing consumers to turn to contraband products and subsequently lead to reduced state revenues, industry experts say. The imposition of the special consumption tax on alcohol products (EFKOP) has prompted many Greeks...

More than 33 million packs of illicit cigarettes have been confiscated in the Greek and Cypriot customs at the end of January by the European Anti-Fraud Office (OLAF) and the General Secretariat against corruption (AFCOS Greece). The two organizations...

With a steady increase of taxes on cigarettes, the state has fallen short of cashing in as the market share of illegal tobacco products has doubled over the past six years going from 10.1 percent in 2011 to 20...

The government is ushering in the New Year with more tax hikes and pension and wage cuts for Greeks, New Democracy said in a press release on Monday, referring to the new set of consumption and special taxes which...

On Monday a new report by the Foundation for Economic and Industrial Research (IOBE) warned that the new tax hike to be placed on tobacco products starting January 1, 2017 will actually cause a 100 million euro annual loss in...

The 2017 state budget was tabled in Greek Parliament on Monday, projecting a 1.8% primary surplus and 2.6 billion euros in new taxes. According to a finance ministry official who spoke on the sidelines of the government's negotiations with the...

According to sources, the Greek state has missed out on an opportunity to reap around 800 million euros in tax revenues due to tax hikes on cigarettes in 2016, as consumers turn to illegal tobacco markets. The data shows that...

Tax Office Statements will meet most Greeks as they return from their summer vacations. On Monday, the first single property ENFIA taxes will be posted online so that the government can yield up to 3.2 billion euros from which...

The Greek government has to impose 1.5 billion euros in taxes in order to unlock the next loan tranche and the multi-bill was tabled in parliament on Wednesday. Greek lawmakers have to read the 284-page omnibus bill in three days...

The Foundation for Economic and Industrial Research (IOBE) noted on Thursday that any efforts to raise taxes on tobacco products in Greece will only lead to further losses in public revenue as the illegal tobacco trade will extend. According to data presented...

With the government increasing taxes across the board, more Greeks are turning to buying smuggled tobacco products, costing the country at least 600 million euros ($780.5 million) in lost revenues from 2011-12, a survey by the Center of Planning...

ATHENS – Already under an avalanche of tax hikes  - including a doubling of income and property taxes – beleaguered Greeks will be hit with a new round of increases in June when the government will pile on more...

A majority of Greek lawmakers on Tuesday voted in favor of the new anti-smoking bill - the third such legislation passed in Greece in the last decade. The new law includes stricter penalties and is tougher on those who smoke...

Despite the fact that the law against smoking in public places went into effect almost 10 years ago (2008), Greece is not even close to implementing it. And even though smokers are the minority, they are the ones who...

Nearly a quarter of tobacco products used in Greece are likely to have been smuggled in to the country, according to the latest data from the Center For Planning and Economic Research (KEPE). KEPE's survey aimed to define the extent of...