By Staff writer
Tax on goods such as soft drinks and tobacco is likely to be imposed in April
The Ministry of Finance said on Wednesday it has not yet started applying the selective tax on goods such as soft drinks, energy drinks and tobacco and its by-products.
It said the tax will be imposed following the approval of its uniform agreement and the launch of the domestic rules of procedure in line with the decisions of the Supreme Council of Gulf Cooperation Council in December, reported the Saudi Press Agency.
Furthermore, its date of implementation will be announced after the completion of legal authorisation procedures, the ministry announced.
The tax’s proposed date of implementation is April 2017.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.