Canada's licensed cannabis producers are facing a dire financial crisis as their unpaid federal excise tax skyrockets. In the most recent fiscal year, the outstanding tax debt owed by these struggling companies has more than tripled, reaching an alarming CAD 192.7 million ($141.2 million).

Federal tax debt is rapidly accumulating among licensed cannabis producers, with the number of companies owing excise debt rising from 68 in March 2020 to 213 in March 2023.

Tax Burden

The burden of high excise taxes, which extract up to 30% of revenue, is overwhelming licensed cannabis producers as the original estimation of CA$10 per gram wholesale price …

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