British Columbia Adds New Tax on Vape
British Columbia has recently added a new 20% sales tax for all liquid vaping products, which now include cannabis products as well. Alberta has set its sights using British Columbia’s vaping tax as a model to follow.
“Further details on how the tax will apply to specific products will be available when the legislation is introduced in spring 2020 and when subsequent regulations are brought forward,” states Charlotte Taillon, Press Secretary for the Office of the Associate Minister, Red Tape Reduction, in an email recently to Marijuana Business Daily. “The intent of the tax is to apply to all vaping liquids – including cannabis liquids – and all vaping devices.” The new taxes have been met with mixed criticism and praise from the public and industry alike.
“Tobacco taxes have been very effective in reducing youth smoking over the years,” says Les Hagen, Executive Director of Action on Smoking and Health, “So we’re hoping to see the same for this vaping tax.” Unfortunately, some see this tax as mostly hurting the pocketbooks of legal adults who choose to use these products. “We all know that youth are particularly price-sensitive, and so when you make a product more expensive, and harder to access, youth will decline,” spoke the Finance Minister Carole James, who introduced the amendments to sales tax legislation in British Columbia. The vape tax has been estimated to generate around $10 million a year in additional revenues.
Former INCB President Now Heads Thai Cannabis Corp.
Viroj Sumyai, who was president of the United Nation’s International Narcotics Control Board (INCB) in 2017 through 2018, has recently been hired by Thai Cannabis Corp. to serve as their new president. Thailand has been making progress since the country allowed for medicinal cannabis since last year.
“Over the last decade, the clinical effectiveness of medicinal cannabis has been scientifically proven,” states Sumyai, claiming to supply Thailand “with safe, effective and affordable formulations of this ancient Thai medicine.” With Sumyai taking the lead of the company, many see him as a strong asset to spearhead medicinal cannabis mainstream while keeping the company in compliance with international laws.
An analyst at Cannabis Catalysts, Julian Vabil Sarwat states that “Viroj Sumyai is a domestically and internationally respected protagonist in the field of controlled substances, and he could strengthen the TCC’s (Thai Cannabis Corp.) relationship to regulatory deciders and industry actors even further.” There’s no doubt that progress will be made with this country’s rapidly growing market, as Cannabis Catalysts estimated it could be worth between $46-312 million by 2024 but has many factors that may contribute or hinder it’s growth.
Viroj Sumyai, who was president of the United Nation’s International Narcotics Control Board (INCB) in 2017 through 2018, has recently been hired by Thai Cannabis Corp. to serve as their new president. Thailand has been making progress since the country allowed for medicinal cannabis since last year.
“Over the last decade, the clinical effectiveness of medicinal cannabis has been scientifically proven,” states Sumyai, claiming to supply Thailand “with safe, effective and affordable formulations of this ancient Thai medicine.” With Sumyai taking the lead of the company, many see him as a strong asset to spearhead medicinal cannabis mainstream while keeping the company in compliance with international laws.
An analyst at Cannabis Catalysts, Julian Vabil Sarwat states that “Viroj Sumyai is a domestically and internationally respected protagonist in the field of controlled substances, and he could strengthen the TCC’s (Thai Cannabis Corp.) relationship to regulatory deciders and industry actors even further.” There’s no doubt that progress will be made with this country’s rapidly growing market, as Cannabis Catalysts estimated it could be worth between $46-312 million by 2024 but has many factors that may contribute or hinder it’s growth.
Peepeekisis Cree Nation Open Cannabis Store
The Peepeekisis Cree Nation is a Cree First Nation, which are the predominant indigenous peoples in Canada south of the Arctic Circle. With a population of around 3,000 located east of Balcarres, Saskatchewan, the ‘Joint Adventures’ Medical Dispensary hopes to boost their local economy for this First Nation community.
“It’s a feasible operation for us to enter into, so we consulted our membership and did a consultation… This is going to be really great for our membership, young and old,” says Colin Stonechild, who leads the economic development for the Peepeekisis Cree Nation. After the idea was approved by members and elders, they soon began to develop their own guiding laws and regulations relating to cannabis.
The new provisioning center has created 15 jobs and the sales revenue from cannabis and other items will go back into the community. “This will offset a lot of costs in our sports and recreation, emergency assistance, elders programs and health care.” Stonechild also sees this business as a way to improve the community’s health as well. “A lot of elders use CBD for chronic pain… For people’s overall wellbeing, THC and CBD combinations can benefit people.”
Lebanon Attempting Move Toward Legalization
Based on a draft law approved by parliamentary committees, then referred to Parliment for adoption, Lebanon may soon see the legalization of cannabis cultivation for medical and industrial use. Even so, some are warning against the negative repercussions that such a decision might entail.
In support Agricultural Minister Abbas Mortada explains that the returns such a program would generate have been studied in detail, and fit in line with recommendations from the US McKinsey plan on developing the Lebanese economy, An estimated 1 billion USD could be generated for the state treasury each year.
Opponents of marijuana point to the poltical and economic turmoil in Lebanon, and the lack of law enforcement, as reasons to not move toward legalization. Some also question the validity of the reported return sum.
Based on a draft law approved by parliamentary committees, then referred to Parliment for adoption, Lebanon may soon see the legalization of cannabis cultivation for medical and industrial use. Even so, some are warning against the negative repercussions that such a decision might entail.In support Agricultural Minister Abbas Mortada explains that the returns such a program would generate have been studied in detail, and fit in line with recommendations from the US McKinsey plan on developing the Lebanese economy, An estimated 1 billion USD could be generated for the state treasury each year.
Opponents of marijuana point to the poltical and economic turmoil in Lebanon, and the lack of law enforcement, as reasons to not move toward legalization. Some also question the validity of the reported return sum.
