JEDDAH: Consumers of tobacco, energy drinks and soft drinks will have to gear up to pay a lot more as the GCC countries have decided to impose steep taxes on these products.
The group will impose a uniform tax of 100 percent on tobacco products, 100 percent on energy drinks and 50 percent on soft drinks, local media reported on Sunday.
The Committee on Financial and Economic Cooperation was mandated to complete all necessary requirements for the decision in preparation of its signing by mid-2016 and approval in early 2017.
100% GCC tax on energy drinks and tobacco products
Updated 11 January 2016
100% GCC tax on energy drinks and tobacco products
