RIYADH: A range of taxes levied on luxury goods and other products deemed harmful to human health is expected to be endorsed today by the Saudi cabinet.
According to Sabq newspaper, the selective tax system (STS) will reportedly be approved during its weekly session chaired by King Salman bin Abdulaziz Al Saud. The STS scheme imposes a 100 per cent tax on the retail prices of tobacco products and energy drinks and a 50 per cent levy on the retail prices of soft drinks. Once endorsed, the new scheme will likely take effect in the first half of May – fifteen days after its publication in the official gazette.
