DUBAI: The Oman Tax Authority announced a 50 percent excise tax on sweetened beverages from Oct. 1, national daily Times of Oman has reported.
The new law coincides with the Unified GCC Agreement on Selective Tax which applies to products deemed to be harmful to a person’s health. The UAE and Saudi Arabia have levied the same tax last year.
The Tax Authority said all businesses involved with the import, production, trade, and distribution of sugary drinks are subjected to the new taxation.
The Selective Tax agreement signed by Gulf states fall under a wider deal that aims to standardized the countries’ economic, financial, and monetary policies.
