Mexico may collect more than 18 billion pesos for recreational use of marijuana

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The bill endorsed this Wednesday predicts that there will be an expenditure of 163 million pesos to comply with what these laws establish.

With the approval of the package of laws to decriminalize the use of marijuana for recreational purposes, it is estimated that Mexico will collect 18 thousand 705 million 304 thousand 395 pesos.

On Wednesday the Chamber of Deputies issued the Federal Law for the Regulation of Cannabis and modified the General Health Law and the Federal Criminal Code to authorize people over 18 years of age to possess up to 28 grams of marijuana for personal consumption.

In the approved minute, it is calculated that approximately 15,543 million 3,995 pesos of Special Tax on Production and Services (IEPS), 1,534 million 300 thousand 400 pesos of Value Added Tax (VAT), and 1,628 million pesos will be collected. of pesos of Income Tax (ISR) at 2021 prices.

“A tax by IEPS on the sale of cannabis of 160% of the value for a package authorized for personal use, as well as a fee of 0.5 pesos per gram of cannabis (taking as a reference the rate and quota established for cigarettes in article 2 of the Law on Tax on Production and Services); a 16% VAT rate on the price per gram of cannabis; and in the case of ISR, a rate of 30% was considered, ”according to the opinion given by the Senate Budget and Public Account Committee, with the advice of the Center for Public Finance Studies (CEFP).

In addition, the CEFP specified the existence of non-feasible estimation elements, such as the collection of fines or the imposition of criminal sanctions, as this depends on the conduct of the obligated subjects.

He pointed out that this area includes the means for establishing mechanisms that provide the national market with lots of cannabis seeds and plants since they are not clearly defined in the proposal.

It also mentions that approximately 163 million pesos will be spent to comply with what these laws establish, such as the execution of actions to promote information on the risks of cannabis use, which will amount to 3 million 162 thousand 540 pesos; for the training mechanisms for health personnel in consumer care, which will entail spending 82 million 766 thousand 585 pesos, and the enabling of the platform for the pre-registration of cannabis seeds, which will cost 78 million 47 thousand 279 pesos.

Source: forbes.com.mx

Mexico Daily Post