Tuesday April 28, 2015 Search
Weather | Athens
14o C
09o 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)  
Discreet Tsakalotos tapped to salvage troubled Greek loan talks
Greece to offer taxpayers a deal to get money back home
Greek shares outperform amid bailout deal hopes
Cyprus central bank head says ready to act if Greece spills over
Eurogroup´s Dijsselbloem says Greece will not make it without aid
The head of the Eurogroup said on Tuesday that a recent shakeup of Greek Prime Minister Alexis Tsipras’ negotiating team would not by itself resolve the impasse between Greece and its credit...
Greek, Turkish Cypriot leaders to kick start peace talks
Greek Cypriots unveiled measures on Tuesday to boost trust across the ethnically divided island, and announced that rival leaders would hold their first meeting in months on May 2. Peace tal...
Inside News
BASKETBALL
Rethymno defeats in-form AEK on Crete
AGO Rethymnou put an end to a positive string of results for in-form AEK, while PAOK survived a strong challenge by Kolossos Rhodes in Thessaloniki in yet another exciting weekend of basketb...
SOCCER
Panathinaikos beats Xanthi to rise to second
Panathinaikos jumped back up to the second spot of the Super League after its home win over Xanthi on Saturday, as PAOK slumped to third due to its draw at home with PAS Giannina on Sunday. ...
Inside Sports
COMMENTARY
The Good, the Bad and the Ugly
It is so exhausting and unpleasant for average Greek citizens to keep hearing for weeks now that the country’s cash reserves will run out in two months, one month, next week, and especially ...
EDITORIAL
Better late than never
Three precious months were lost in the government’s negotiations with the country’s international partners and creditors, as some of its officials wasted time on their own self-promotion, ha...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Eurogroup´s Dijsselbloem says Greece will not make it without aid
2. Greek, Turkish Cypriot leaders to kick start peace talks
3. Discreet Tsakalotos tapped to salvage troubled Greek loan talks
4. Greece to offer taxpayers a deal to get money back home
5. EU lawmakers demand migrant burden be shared
6. Dijsselbloem says Greece will not make it without aid
more news
Today
This Week
1. The Good, the Bad and the Ugly
2. Creditors to demand extra measures of 3 bln euros
3. Plan on the cards for flat VAT rate of 18 pct
4. Greek PM says people may have to rule on creditor deal [Update]
5. Greek PM says initial deal in bailout talks 'very close'
6. No trolley buses from 11 a.m. to 4 p.m.
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Denialism
3. Europe's collision course with Greece
4. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
5. Leaving the past in the past
6. Greece’s day of reckoning inches closer as debt payments loom
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.