Village Farms disappointed Cannabis Excise Duty change not in Canada budget

Village Farms International notes its disappointment that a change to the current Cannabis Excise Duty was not included in today’s Canadian federal budget. “We remain focused on working with industry and government to create more favourable tax conditions for the cannabis industry and advance a level playing field for all,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms. “While Village Farms’ Canadian Cannabis division remains profitable under the current taxation framework, it is our view that the true measure of success for any industry is the ability to contribute tax revenue from profitable income, not taxation from topline sales.”