GCC said to raise taxes on soft drinks

Gulf Cooperation Council countries have proposed raising taxes on soft drinks by 100 percent as part of its uniform tax code, Makkah newspaper has reported.

The increase will cover all soft drinks which contains over 5 grams sugar per 100 milliliters, the newspaper said.

The GCC committee on financial and economic cooperation has been mandated to complete all necessary requirements before the proposal is ratified, it said.