Saturday Jul 26, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
500 mln lost to cigarette smuggling

By Vangelis Mandravelis

Sales of smuggled cigarettes have more than trebled in Greece, amounting to an estimated 3.5 billion euros per year, or 15 percent of the legal market, as the worsening of the economic recession and repeated price hikes for tobacco products have frustrated smokers.

Historically, the smuggled cigarettes market had amounted to 3 percent of the legal one, but the latter is rapidly shrinking. In the years 2010 and 2011 it contracted by a total of 25 percent, while for the first two months of 2012 it has shown an additional decline of 10 percent year-on-year.

Market professionals believe that the Greek state has missed out on revenues of up to 500 million euros from special consumption tax on tobacco, money which is now distributed mostly among cigarette smugglers, according to some.

Illegal cigarettes cost an average of 1 euro per pack, out of which the 40 cents constitute a clear profit for smugglers. Estimates put the number of illegal cigarette packs traded last year at 170 million.

ekathimerini.com , Sunday April 8, 2012 (22:50)  
Trade deficit grows 9.5 pct in Jan-May
Number of 5-star hotel rooms rises 31.4 percent in four years
Greeks get slightly less downbeat
Banks reluctant to issue credit
MP steps in to get power back on at invalids home
An MP had to intervene to get the electricity supply restored to the home of a man who requires a machine to help him breathe just days after a woman on life support died in Hania, Crete, as...
Civil servants who changed contracts to undergo checks
State inspectors are to begin checking the circumstances under which thousands of people working in the public sector had their fixed-term contracts switched to open-ended deals in the years...
Inside News
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. I l...
SOCCER
Olympiakos downs AC Milan 3-0 in friendly
Greek champion Olympiakos defeated Italy's AC Milan 3-0 late on Thursday in a friendly match that launched the International Champions Cup in Canada and the US. The result, with goals from A...
Inside Sports
TALK
What lessons can we draw from antiquity?
Our theme is limits. And we are gathered here at this limit of Europe, close the to sea: the limitless, the boundless. And we face all sorts of limits. There are the limits of knowledge fa...
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the countrys fate since then are unable to act their age. For decad...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Trade deficit grows 9.5 pct in Jan-May
2. Number of 5-star hotel rooms rises 31.4 percent in four years
3. Greeks get slightly less downbeat
4. Banks reluctant to issue credit
5. MP steps in to get power back on at invalids home
6. Civil servants who changed contracts to undergo checks
more news
Today
This Week
1. Greek coast guard picks up 77 migrants off Myconos
2. Draghi safety net becoming blindfold as bonds soar
3. Aegean Airlines resumes flights to Tel Aviv
4. Police report points to less crime in 2014
5. Godfather, 35, shot at Karditsa christening dies
6. Thousands of dead fish surface in Lake Pamvotis
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
6. Quadriplegic woman on life support 'dies due to unpaid power bills'
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.