Riyadh Doubles Price of Cigarettes to Recoup Lost Oil Cash

Saudi Arabia has introduced a new tax on cigarettes and energy drinks that has led to a 100-percent price hike, as the kingdom continues to struggle with sunken oil prices.

The newly introduced tax has cranked up prices on cigarettes and energy drinks across Saudi Arabia, according to various media reports. Prices for carbonated drinks have been increased by 50 percent as well.

The introduction of what has been dubbed a “sin tax” is officially meant to discourage consumption of harmful products that are likely to cause health problems, and will eventually increase medical expenses that are paid in part by the government, according to the official website of the country’s General Authority of Zakat and Tax (GAZT).

Full story: sputniknews.com

Sputnik International

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