BUSINESS

State missed out on 637 mln in taxes in 2015 due to illegal tobacco trade

TAGS: Economy

The illegal tobacco trade in Greece has grown sevenfold in the years of the financial crisis, which began in 2008, amounting to 19.8 percent of domestic sales last year, according to a European survey by KPMG.

In 2015 cigarette smuggling resulted in the state losing revenues of 637 million euros, down from 670 million in 2014.

The 3.89 percent annual drop in contraband cigarettes is attributed to the imposition of new taxes, increased inspections by the Port Police and the Financial Crimes Squad, and consumers being better informed about illegal tobacco products.

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