Home Industry Finance Saudi says tax on tobacco, sugary drinks can generate up to SAR10bn A 50 per cent levy will be imposed on soft drinks and 100 per cent on tobacco and energy drinks by Reuters April 17, 2017 Saudi Arabia’s government estimates a new tax on tobacco and sugary drinks will raise between SAR8bn and SAR10bn ($2.1bn to $2.7bn) annually, Al Arabiya television quoted the General Authority of Zakat and Tax as saying on Monday. The government has previously said it will introduce the tax, part of efforts to close a budget deficit that totalled SAR297bn last year, in the second quarter of this year. A 50 per cent levy will be imposed on soft drinks and 100 per cent on tobacco and energy drinks, according to an official statement last December. Also read: Saudi Shoura Council discusses soft drink, tobacco tax UAE to implement soft drink, tobacco tax this year 0 Comments