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There is no end to the increase in tax on cigarettes, as their price will increase further by the end of the month.
In particular, according to the decision of the Governor of the Independent Public Revenue Authority (AADE), Giorgos Pitsilis, there will be a new increase of 2.2% in tax on cigarettes, which will come into effect from the end of the month. Taxes on cigarettes are imposed on retail rather than on wholesale price.
As estimated, we will have an increase of about 2.2%.
So a package of 20 cigarettes currently costing about 4.10 euro (‘theoretically’ € 4,0956) from 31st January will cost 4.18 euro (€ 4,1812 before rounding).
In the 4.0956 euro is already included excise duty amounting to EUR 2,710 and FPA / VAT of € 0.75 leaving a profit margin of € 0.54 for everyone who participates in production and legal trafficking.
Particularly, as the typical quote of the Government Newspaper says, for the calculation from 31st January 2019 of excise duty (EFK) of cigarettes, pursuant to the provisions of paragraphs 6 and 7 of article 97 of Law 2960/2001 and on the basis of the tax data for the year 2018, is defined, as Weighted Average Price (S.M.T.) retail selling of cigarettes, the amount of € 209,06 EUR the tax unit (1 FM / TU= 1,000 cigarettes).
Source: https://www.imerazante.gr/2019/01/23/189365?fbclid=IwAR3uotFb_wi9elV76UbCPZXxYektq-KHxZdfjX2yh7cJNgyW-fmtnzj9TLc
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