Recreational marijuana users in Canada are still buying from black market. It’s assumed that a big part of the issue is the high excise taxes on marijuana.
The current tax is $1 Canadian dollar per gram of dry flower and oil or 10% of the sale price, The Motley Fool reported. But the 2019 budget for the country may be changing the way that marijuana is taxed in Canada.
Canada is planning to tax marijuana products based upon how much THC they contain. The biggest benefit to these adjustments is for marijuana users that use low-THC products.
The new tax rate for non-flower products could be put into action as soon as May 1.