Saudi Arabia expects SAR 8-10 bln in revenue from selective tax

Saudi Arabia expects nearly SAR 8-10 billion in annual revenue from the planned selective tax on tobacco and sugary drinks, which will be imposed on June 11, Khalid Khurais, director of the selective tax unit at the General Authority of Zakat and Tax told Al Arabiya television.

Selective taxpayers would be those who produce or import any of the commodities subject to this tax, Khurais said, adding that 15 percent of them have applied for payment.

A tax of 100 percent will be imposed on tobacco and byproducts, as well as energy beverages, while a 50 percent tax will be applied to soft drinks, Argaam earlier reported.