Friday March 6, 2015 Search
Weather | Athens
20o C
11o 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)  
Jobless rate starts picking up again
Election lifted consumers’ mood
ECB decisions may prove to be a blessing in disguise
Market sees gov’t yielding after pressure
PM, FinMin in diplomatic push to sell measures
Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis are launching a diplomatic offensive, with calls to several European counterparts, in a bid to lay the groundwork for anot...
Police seeking missing student to recall key witnesses
Police in Ioannina, northwestern Greece, are to conduct a new round of interviews with students at the city’s Dairy School and other acquaintances of missing student Vangelis Giakoumakis in ...
Inside News
SOCCER
Greece need to attack more, new coach Markarian says
Greece coach Sergio Markarian said Thursday he wanted Greece to play more attacking football against Hungary in a Euro 2016 qualifier on March 29 as his side strive to move off the bottom po...
SOCCER
Super League restarts, but behind closed doors
Deputy Minister for Sports Stavros Kontonis announced on Wednesday the resumption of the Super League this weekend after it was suspended last week following crowd trouble at the Athens derb...
Inside Sports
COMMENTARY
PISA, Schengen, mediocrity and isolation
Greece’s most serious problem is not the economic and political crisis, though it did contribute greatly to it. At the root of our evil lies our great isolation, not only from our partners i...
COMMENTARY
Greek-Turkish relations
There are other issues beyond those focusing on the economy that the government, formerly of the “Indignants” and currently adapting – willingly or unwillingly – to eurozone realities, is fa...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. PM, FinMin in diplomatic push to sell measures
2. Jobless rate starts picking up again
3. Police seeking missing student to recall key witnesses
4. Election lifted consumers’ mood
5. State will keep paying priests´ salaries, Greek gov´t says
6. ECB decisions may prove to be a blessing in disguise
more news
Today
This Week
1. Greek-Turkish relations
2. Greece seeks to plug its 'Bermuda Triangle' of lost taxes
3. Greece struggles to make debt math work amid bailout standoff
4. Greece has backup plan if March bailout cash fails to arrive, says Varoufakis
5. Draghi details sought as ECB's QE plan poised to be fleshed out
6. Government policy
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. SYRIZA feeling the pain
3. The Greek tax drama
4. The unlikely winners of Greece's surrender on euro
5. Varoufakis to make six reform proposals at Monday's Eurogroup
6. Tsipras reversal draws Greek sympathy as party rumblings rise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.