January 12 2016
Sources have confirmed the Gulf Cooperation Council (GCC) member states have agreed to introduce a selective and unified tax on fizzy and energy drinks.
The proposed tax is expected to be 50% on fizzy drinks and 100% on energy drinks.
An agreement is expected to be signed by all GCC member states by the middle of 2016 and a final approval is expected by early 2017.
The move comes after the GCC member states agreed to impose a selective tax on tobacco and its derivatives equivalent to 100% of the customs fees imposed on these products.
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