A European Union push to raise taxes on tobacco products could significantly affect cigarette prices in the coming years, the head of a Greek retailers’ group said Tuesday. A pack could reach 6.5 euros ($7.50) as new taxes are phased in.
Kostas Iakovou, president of the Union of Tobacconists, Kiosk Operators and Kiosk Tenants of Macedonia, said talks at the European level have been under way for about two years.
At the most recent meeting of the Economic and Financial Affairs Council, known as Ecofin, which brings together the member states’ finance ministers, Malta vetoed the proposal, effectively blocking its advance, he said. Sweden took a similar position at an earlier meeting.
Iakovou said negotiations could wrap up next month and that he believes a deal to raise taxes will ultimately be reached.
