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E-Cigarettes And Sweetened Drinks Are Going To Get More Expensive In Saudi
Saudi Arabia already has imposed heavy excise taxes on tobacco, soda and energy drinks back in 2017. Now, that tax has been extended to e-cigarettes and sweetened drinks.
According to Bloomberg, all drinks with added sugar will be subject to a 50% levy and e-cigarettes and their accompanying liquids will face a 100% levy.
This levy will be in addition to the 5% VAT that is mandatory on almost all consumer products.
The new taxes will not only deter the masses from these products but will also boost non-oil revenue for the Kingdom. The exact of when these new taxes will roll out has not been revealed but it is speculated to be in the near future.
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