MJ Biz Report: Canada’s haul from cannabis tax reaches CA$32 million

The federal portion of Canada’s cannabis excise duty amounted to 32 million Canadian dollars ($23.7 million) from April 2019 through March 2020, according to new figures from the country’s finance department.


Canada’s cannabis excise taxes are collected by the federal government, which keeps 25% and shares the remaining 75% with provincial governments.
Although the cannabis tax revenue represents only a tiny fraction of the Canadian government’s total revenues for the period (CA$334.3 billion), it illustrates growth in Canada’s marijuana tax proceeds.

In May, the province of British Columbia reported record cannabis excise tax revenue of $2.5 million for December, boosted by new legal cannabis stores opening in the province.

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Canada’s haul from cannabis tax reaches CA$32 million

 

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