EU considers tobacco excise tax revision at upcoming ECOFIN meeting

The European Council of Economic and Financial Affairs (ECOFIN) is set to discuss a revision of the tax framework for tobacco products during its meeting on November 9, 2026. Brussels aims to modernize legislation to support public health goals and align fiscal policy with modern market trends, including the potential inclusion of new nicotine products under a unified regulatory regime.

Reports suggest that the proposal includes increasing minimum excise duty rates across the European Union to reduce discrepancies between member states, with some outlets predicting price increases exceeding 80% for Cyprus and Greece. However, Andreas Konstantinou, a spokesperson for the Cyprus Customs Department, clarified that no final decisions have been reached. He dismissed claims regarding specific price hikes—such as rumors of a 6.50 euro price point in Cyprus—as premature, noting that the matter remains in the consultation phase.

The current discussions are based on long-standing policy pillars aimed at strengthening the European budget through standardized tax adjustments. While some sources describe the potential for significant tax burdens, official government representatives emphasize that the process is ongoing and that political negotiations are managed by the Ministry of Finance rather than customs authorities.