BC Liberal Party plans to take the 10% PST off booze, while leaving the 7% PST on cannabis.
What happened: Legal cannabis retailers in B.C. are calling the BC Liberals’ more than $10-billion promise to eliminate the provincial sales tax (PST) for one year, and then have a reduced tax for another year, unfair because the tax will still be applied to most legal cannabis products even as it is removed from retail alcohol purchases.
Why it matters: The legal retail cannabis sector is filled with small business owners trying to gain market share from unregulated and unlicensed competition that do not have to pay the hefty licence fees (more than $33,000 in Vancouver) and other costs that legal operators must bear.
– Read the entire article at Business in Vancouver.