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What is an excise tax?

An excise or excise tax, at varying rates, is any duty on manufactured goods that are deemed harmful to general health and/or the environment,. Currently, there is a 50% excise tax levied on soft drinks, and 100% on energy drinks, tobacco, and electronic cigarettes. Additionally, there is a 50% excise tax on sweetened beverages.

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Last Update: 04 Sep 2020 06:06 PM Saudi Arabia Time