Cannabis Taxes Brought in $186 Million in Five and a Half Months
Ottawa and the provinces made $186 million from various taxes on cannabis from last October through the end of March, numbers released Wednesday show.
The provinces took the lion’s share of that money, with $132 million in combined sales tax and excise tax revenue; the federal treasury took in $55 million.
Governments face a dilemma taxing cannabis, says Brock University business professor Michael Armstrong.
“It’s a tradeoff — the more you increase taxes the more revenue you get, but that increases prices and makes you less competitive with the black market.”
– Read the entire article at Global News.