Canada’s Liberal government unveils its 2024 budget on Tuesday, and the country’s cannabis industry wants one thing above all: relief from a heavy excise-tax burden.
Struggling Canadian cannabis companies have been asking for a tax cut for years now, without success.
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However, the 2024 budget being released Tuesday afternoon comes soon after two recent developments that offered a shred of hope for tax reform.
In a February pre-budget report, the House of Commons Standing Committee on Finance recommended limiting the excise-tax rate to 10%.
Not long after, Canada’s long-awaited legislative review of recreational cannabis legalization recommended that the federal finance department “consider a review of the excise tax model.”
Tax cut in budget ‘very uncertain’
Regardless of those recommendations, industry insiders interviewed by
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