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Saudi Arabia to Start Levying Sugary Drinks Tax in December
Saudi Arabia to Start Levying Sugary Drinks Tax in December
13 Jun 2019, 01:13 AM IST
(Bloomberg) -- Saudi Arabia will begin implementing a new excise tax on sweetened drinks from Dec. 1, according to the official gazette, as the kingdom seeks to boost non-oil revenue.
The General Authority of Zakat and Tax is expanding a levy charged on tobacco and soda to include electronic cigarettes and all drinks with added sugar. Authorities have said the latter will be taxed at 50%.
To contact the reporter on this story: Dana Khraiche in Beirut at dkhraiche@bloomberg.net
To contact the editors responsible for this story: Alaa Shahine at asalha@bloomberg.net, Michael Gunn, Sebastian Tong
©2019 Bloomberg L.P.
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