December 2017
Federal Government, Provinces Reach Revenue Sharing Deal on Cannabis

2017-12-14 11:37:16 AM

Earlier this week the federal government and provinces reached a deal on sharing tax revenue from cannabis sales. According to the deal provinces will collect 75% of all excise tax levied on cannabis sales, while the federal government will take the remaining 25%. The deal also stipulates that recreational cannabis will be priced at about $10 a gram, and that the federal portion of the tax revenues will be capped at $100 million a year, with the provinces sharing any additional revenue collected. The deal does not specifically allocate any money to municipal governments, leaving it to the provinces to strike a deal with the municipalities in their jurisdiction. The tax sharing formula will be reviewed in two years. 


Blog post currently doesn't have any comments.