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WQ.35/2021
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES
BY THE CONNÉTABLE OF ST. MARTIN
QUESTION SUBMITTED ON MONDAY 1st FEBRUARY 2021
ANSWER TO BE TABLED ON MONDAY 8th FEBRUARY 2021
Question
Further to undertakings made in the Government Plan 2021-2024, will the Minister -
- provide the Assembly with an update on the progress, if any, that has been made in respect of proposals for a scheme to tax the growing and processing of medicinal cannabis;
- advise, in particular, whether any tax incurred by people on the profits made from the growing and processing of medicinal cannabis will be separate from, or additional to, any other tax paid by these people; and
- advise whether any tax levied on the growing and production of medicinal cannabis will be at the full standard rate without set off?
Answer
- Article 16 of the Finance (2021 Budget) Law 2020 enables the States to make Regulations providing for the taxation of the profits of companies whose business involves or relates to medicinal cannabis or its derivatives. No substantive work is yet under way to develop draft Regulations.
- & (c) It is not therefore possible at this early stage for the Treasury to make any commitments regarding the drafting of those Regulations.