Riyadh – Mubasher: Saudi Arabia is in talks with GCC neighbours to study the possibility of imposing the selective tax on new products over the coming period, the kingdom’s finance minister said.
This procedure may be implemented this year, as the selective tax is currently applied on fizzy drinks, energy drink beverages, and tobacco, Al Arabiya TV reported, citing Mohammed al-Jadaan as saying on the sidelines of the World Economic Forum (WEF).
The GCC nations have recently approved applying the selective tax on soft drinks, but the implementation date has not been set yet, al-Jadaan added.
The Saudi official further noted that the kingdom does not plan to raise the value of the value-added tax (VAT).
