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excise tax

Excise Tax and High VAT Make Beer Expensive in Greece

Beer in Greece is among the most expensive products in the European Union because of high excise tax and a 24 percent value-added tax. According to the current European Commission Directive, each Member State is required to impose a minimum...

Greece Loses Battle Over Lower Taxes for Tsipouro and Tsikoudia

The European Court rejected Greece's appeal on Thursday to set a lower excise tax for tsipouro and tsikoudia, two of the most traditional and popular Greek alcoholic beverages. Europe's top court ruled in favor of the European Commission which claimed...

Greeks Paying €1.02 Tax for Every Liter of Gasoline they Buy

As the price of gasoline reaches an average €1.68 ($1.99) per liter in Athens and almost €2 on some islands, crisis-stricken Greeks are leaving their cars at home and using public transportation. Eurostat -- the EU's statistics agency -- says...

Excise Tax on Wine Backfiring, Shifting 65% of Sales to Black Market

In efforts to raise revenues for the state, in January 2016 the government introduced an excise tax on wine. However, figures show that instead of making the predicted 65 million euros annually for the state, the new take hikes...

Higher Excise Taxes on Alcohol and Tobacco Result in Loss of State Revenue

Higher excise taxes on alcohol and tobacco are forcing consumers to turn to contraband products and subsequently lead to reduced state revenues, industry experts say. The imposition of the special consumption tax on alcohol products (EFKOP) has prompted many Greeks...

Not a Single Luxury Car was Sold in Greece in 2015

Not a single car over 300,000 euros was sold in crisis-stricken Greece in 2015 says a News Auto report. A few years ago, there were several cars costing 400,000 euros or more sold by car dealerships in Greece. Luxury car...