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Canadian FMs Discuss Taxation Of Cannabis

by Mike Godfrey, Tax-news.com, Washington

20 June 2017


Canada's federal, provincial, and territorial finance ministers have discussed the tax regime that will enter into force when recreational cannabis is legalized in July 2018.

According to federal Finance Minister Bill Morneau, ministers discussed "advancing a coordinated cross-country approach to the taxation of cannabis." He said that the Government's goals in legalizing cannabis are to keep the drug "out of the hands of youth, and keep profits out of the hands of criminals," and that the tax system must support these goals.

Morneau also said that ministers had discussed anti-evasion and anti-avoidance initiatives, along with "ways to work together to develop a national strategy aimed at improving the availability of beneficial ownership information."

TAGS: compliance | tax | tax compliance | public health | ministry of finance | tax rates | Canada | revenue statistics | tax reform | BEPS

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