(This is the first installment of a two-part series about licensed Canadian cannabis producers’ unpaid excise taxes.)
Canada’s tax collection agency is following through on a threat to garnish cash from licensed cannabis producers that are delinquent on their excise duty payments, MJBizDaily has learned.
The move is a major escalation in the Canada Revenue Agency’s efforts to collect money it’s owed by federally regulated cannabis companies with outstanding excise debt – a situation that has ballooned in recent years as the industry’s financial challenges mount.
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The amount of unpaid federal excise tax owed by Canada’s cash-strapped marijuana companies had skyrocketed to almost 200 million Canadian dollars ($155 million) as of March 31, 2023 – a nearly threefold increase over the previous fiscal
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