Legal marijuana could earn millions for Swiss state
Legal cannabis should benefit the federal coffers, as it is subject to a 25% tax and VAT levy, which should generate CHF30 million a year in tax revenue for the state
Swissinfo (Switzerland)
Tuesday, May 16, 2017
Tuesday, May 16, 2017
Some 130 firms have registered with the Swiss federal authorities to sell legal pot that could generate CHF30 million ($30.2 million) in annual revenue for the state. Legal cannabis has become a flourishing business in recent months. Switzerland changed its laws in 2011 to let adults buy and use cannabis with up to 1% tetrahydrocannabinol (THC) – the active ingredient that gets smokers high. So far, 130 retailers of legal cannabis have registered with the Federal Customs Administration to be taxed as tobacco producers, the Berner Zeitung reported. Swiss customs officials were in contact with 250 other potential producers. The customs administration confirmed that annual sales of legal pot in Switzerland amount to CHF100 million.
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