US expert: Opportunities for region in ganja trade
Caribbean governments contemplating the decriminalisation of the cannabis industry have been warned by one United States expert not to overtax the sector.
Jamaica and Antigua already have decriminalised the use of small amounts of the herb for personal consumption, with the recently elected Mia Mottley-led administration in Barbados promising to consult with Barbadians on the decriminalisation of recreational marijuana.
Brian Staffa, chief strategist at the cannabis consulting company BSC Group, told officials attending Caribbean Week in New York this morning that while taxation may be necessary, governments must strike the right balance in that area.
“The government often assumes that taxation is the cash cow and I just want to give a cautionary tale. While taxation can be one way, taxation directly on the product, directly on the operators that are creating it, and then at some sort of end of the sale perhaps with sales tax, that’s only one portion.
Read more at: Barbados Today