by Mike Godfrey, Tax-News.com, Washington
05 October 2017
Canadian Prime Minister Justin Trudeau has proposed the introduction of a dollar a gram excise tax on the sale of recreational cannabis when the drug is legalized.
The federal Government intends to legalize recreational cannabis from July 2018.
Trudeau recommended the introduction of a federal excise tax during a meeting with provincial and territorial heads of government.
Under Trudeau’s scheme, an excise tax of CAD1 (USD0.80) per gram would apply to recreational cannabis sold for up to CAD10 a gram. Above this price threshold, the tax would increase to 10 percent of the value of the drug sold.
The revenue raised would then be split between the federal and provincial administrations.
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Published at Wed, 04 Oct 2017 20:00:00 -0400