Greek smokers may face pressure from a sharp rise in cigarette prices, with the average price of a pack of cigarettes soaring from the current about 4.6 euros to about 7 euros, an increase of more than 50%, a change derived from the European Commission's large-scale tobacco tax reform plan. The plan aims to update the EU tobacco tax framework, which has not been significantly adjusted since 2011, including amendments to the Tobacco Tax Directive (TTD) and the introduction of a new European Tax Mechanism (TEDOR). At the heart of the reform is a significant increase in the minimum excise tax on almost all tobacco and nicotine products. Under the most radical scenario, cigarette taxes will rise... [Read more]