Pierrakakis: tobacco tax increases postponed until 2036
National Economy and Finance Minister and Eurogroup President Kyriakos Pierrakakis visited the facilities of tobacco cooperative SEKΕ in Xanthi (İskeçe), describing it as the largest tobacco industry in Greece and the Balkans and highlighting its significant export activity.
Pierrakakis was welcomed by former prime minister and SEKΕ Group president Kostas Karamanlis, the company’s chief executive, former agriculture minister Alekos Kontos, and SEKΕ president Panagiotis Tarenidis. He toured the facilities and held a meeting with company executives.
Speaking after the visit, Pierrakakis said Greece had secured a more balanced compromise on proposed European tobacco taxation, with increases for the country set to take effect in 2036 rather than 2028, as initially proposed by the European Commission.
He said the agreement would provide a more realistic adjustment period while maintaining public health as a priority.
The minister stressed that the tobacco industry generates significant added value for the national economy and for Eastern Macedonia and Thrace, particularly Xanthi, through its production and export activities.
Visits energy technology company and Kavala
During his visit to the region, Pierrakakis also toured Sunlight’s facilities in Xanthi (İskeçe), where he was briefed on research and innovative products, particularly energy storage technologies linked to renewable energy sources.
In Kavala, he met with Chamber of Commerce president Yiannis Panagiotidis and representatives of local business associations to discuss the economy, infrastructure and development prospects.
Pierrakakis said the government, in cooperation with the Independent Authority for Public Revenue (AADE), was advancing plans to relocate Kavala’s customs house, inspection areas and warehouses. The proposed alternative location is the city’s craft park.
The minister’s regional visit is due to conclude with a speech at an event organized by the Region of Eastern Macedonia and Thrace in Alexandroupoli (Dedeağaç), focusing on regional development opportunities and the role of stronger regions in Greece’s economic future.
