Tax Reformand regulatory changes has got to happen soon. no wonder why the government has been dragging there feet for years, they are lining their pockets.
Unpaid cannabis tax in Canada balloons to almost CA$200 million
Federally licensed cannabis producers owed the Canada Revenue Agency 192.7 million Canadian dollars ($145 million) as of March 31, 2023, a more than threefold increase over the 2021-22 fiscal year’s CA$52.4 million, reports MJ Biz Daily.
Against this backdrop, the publication notes that the Canada Revenue Agency has been increasing the pressure on producers with outstanding payments.
“Government has acknowledged the need for ‘recalibration’ as early as 18 months ago, but continued inaction has pushed the entire industry, especially small business, to a critical breaking point,” Dan Sutton, CEO of British Columbia-based cannabis producer Tantalus Labs told the publication.