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black market

Black-Market Cigarettes Cost Greece €600Μ

Around 4.6 billion contraband cigarettes are sold in Greece every year costing the state €600 million ($741 million) in lost taxes. The claim was made at a conference involving Transparency International, the General Secretariat on Corruption, Europol, the Economic Crime...

Excise Tax on Wine Backfiring, Shifting 65% of Sales to Black Market

In efforts to raise revenues for the state, in January 2016 the government introduced an excise tax on wine. However, figures show that instead of making the predicted 65 million euros annually for the state, the new take hikes...

Undeclared Labor Painting a "Black" Picture for Greece

A growing number of Greek professionals, unable to meet the demands of a Greek state system that often requires freelancers to pay tax on money they don't receive, are closing their receipt books to make ends meet. The Hellenic...

Greek Fraud Cops Bust Black Market Scam by Recycling Crew

Greece's financial police on Friday said they had arrested the owner of an Aspropyrgos-based recycling company and his daughter on charges of dodging tax among other fraud, at an estimated cost to the Greek state of around two million euros. The company had undertaken contracts for the...

Greek Olympic Committee President Allegedly Involved in London 2012 Tickets Scandal

The International Olympic Committee (IOC) decided to conduct a thorough investigation into the case of Olympic officials selling thousands of tickets to the London Olympics 2012 events on the black market. According to the UK newspaper Sunday Times, officials...