Riyadh - Mubasher: The Saudi General Authority of Zakat and Tax (GAZT) announced that the implementation of the excise tax law shall start Sunday 11 June 2017.
“Liable persons of producers and suppliers of excise goods, tobacco products, carbonated drinks and energy drinks, may register for the excise tax, and producers of excise goods may apply for a tax warehouse license, through the official portal of the General Authority of Zakat and Tax as of the date of starting implementation,” the authority said in an official statement.
The excise goods are tobacco products and energy drinks at a rate of 100% of retail price, and carbonated drinks at a rate of 50% of retail price, the statement explained.
The GAZT has stated that every person who possesses excise tax goods should file a return for the transitional period starting Sunday, and pay accordingly within 45 days, to avoid being subject to legal penalties and fines.
The Zakat and Tax Authority also urges the respectful taxpayers to comply with the provisions of the excise tax law and its implementation regulations, published in the official Gazette.
