Ukraine Considers Taxing Cannabis Production as a Budget Solution
According to a recent report by RBC-Ukraine, the Ukrainian Ministry of Finance is said to be preparing a proposal to discuss the possibility of taxing marijuana production, following the legalization of medical marijuana. Chairman of the Tax Committee, Daniil Getmantsev, revealed this information during an interview.
Gaitman Chif expressed that marijuana production may become one of the non-traditional channels to fill the budget.
We have recently legalized medical marijuana. Will the cultivation of marijuana expand the tax base? Yes, it will. Can we discuss additional revenue for the budget on this issue? Absolutely. I'm serious," he said.
He further added that it is premature to discuss the fiscal implications at this point. However, he believes that taxing marijuana production at a rate of 300 Grivnas per hectare, similar to that of wheat, is evidently an erroneous tax policy.
He said, "I know that the Ministry of Finance is currently preparing a proposal.
On December 21, 2023, the Ukrainian Verkhovna Rada voted on the issue of legalizing medical cannabis. The bill 7457 was introduced in June 2022 and underwent its first review after one year, gaining the support of 248 members of parliament five months later. If the signing obstacles are lifted in January this year, the legislation will come into effect in July 2024.
Disclaimer:
This article is translated from an original Chinese article available on 2firsts.cn by AI, and has been reviewed and edited by 2FIRSTS's English editorial team. The Chinese original text is the only authoritative source of information. The exclusive copyright and license rights to this article are held by 2FIRSTS Technology Co., Ltd. Any reproduction, reprinting, or redistribution of this article, either in part or in full, requires express written permission from 2FIRSTS and must include clear attribution along with a link to this content. Non-compliance may result in legal action. 2FIRSTS Technology Co., Ltd. reserves the right to pursue legal actions in case of unauthorized use or distribution.
