Canada generated in CA$1.5 billion in cannabis tax, profit in 2021-22

MJ Biz reports

Various levels of the Canadian government collected more than 1.5 billion Canadian dollars ($1.12 billion) in cannabis profit and tax revenue in fiscal 2021-22, according to recently released data by Statistics Canada.

For the financial year ended in March 2022, total net income from province-owned cannabis businesses, plus total taxes and other revenue, equaled CA$1.55 billion.

The data isn’t available for other years.

MJBizDaily previously reported that Canada’s federal government has assessed more than CA$1 billion in total duty on cannabis products between 2018 – when adult-use sales launched – and 2022, according to the latest federal data.

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