SCOOP: The amount of unpaid excise tax owed by Canadian companies that is deemed "uncollectable" by the Canada Revenue Agency has soared of late, largely because of insolvencies. Uncollectable or "potentially" uncollectable duty approached $50 million as of Feb. 29, 2024, the CRA data shows. That’s an 11% increase from approximately $45 million a year ago. At least 123 federal cannabis business licenses either were canceled or pending cancellation in 2023, according to new data. That figure is almost triple the number of licenses canceled in 2022. Companies with canceled licenses are unable to cultivate, produce, package or possess non-duty-paid cannabis. For @MJBizCon

Posted by Matt Lamers at 2024-04-09 13:51:29 UTC