Manitoba has repealed a requirement for legal cannabis retailers to pay a 6% “social responsibility fee” based on their gross annual sales to the province.
The move could add approximately 11 million Canadian dollars ($7.8 million) back into the pockets of businesses, who have been struggling amid fierce competition and tight margins.
ADVERTISEMENT
The province’s regulated cannabis sales amounted to CA$181.68 million in 2022.
Manitoba currently has approximately 178 stores in operation.
“This will help Manitoba’s legal cannabis retailers of all sizes maintain margins while reinvesting in their businesses so they can better compete with a well-entrenched illicit market,” Raj Grover, CEO of retailer High Tide, said in a statement.
“While today’s announcement is a positive first step, much more needs to be done, especially by the federal government, to ensure the sustainability of Canada’s legal cannabis sector, which directly employs tens of thousands of Canadians but
Read full article on Marijuana Business Daily
