Canada’s rec cannabis tax formula emerging: 10% excise + 5% GST

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Canada’s federal government floated a possible recreational marijuana taxation plan this week, pitching a 10% excise tax on top of the 5% GST levy that’s applied to most goods and services sold in the country.

Provinces haven’t weighed in with their own sales tax, but once those are included (a near certainty) recreational cannabis could be taxed at between 20%-25%.

In a meeting with premiers, Prime Minister Justin Trudeau proposed the excise tax of 1 Canadian dollar (80 cents) per gram for cannabis sales up to CA$10, rising to 10% thereafter, the Straight and The Globe and Mail reported.

Canada’s rec cannabis tax formula emerging: 10% excise + 5% GST is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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