Business of Cannabis..
Last week the Italian government tabled proposals aiming to regulate the nation’s booming ‘cannabis light’ industry.
The administration of recently instated Italian Prime Minister Gorgia Meloni proposed an amendment to Bill 1038 on June 20, 2023, seeking to extend tobacco legislation to cover the low THC hemp flower sold commonly for consumption throughout Italy.
These sweeping amendments laid out plans to create a tax framework, while establishing an authorisation system through the Customs and Monopolies Agency (ADM).
However, a day later, the government u-turned on its decision and withdrew the proposals for an amendment, but both local media and industry sources believe the proposals are set to soon be reintroduced in a different bill.
The proposals
The amendment proposals encompassed a number of key points, the first of which covered taxation.
Under the new framework, sales of all cannabis-light products would be taxed at 56.5%, bringing them in line with the current levels of tobacco taxation.
Italian cannabis industry association Canapa Sativa Italia (CSI), which was instrumental in the overturning of ‘absurdly restrictive’ legislation earlier this year which meant hemp leaves and flowers were considered narcotics in the eyes of regulators, believes this level of taxation is likely to ‘hinder the development of the Italian hemp industry’.
The amendment would also place limits on where cannabis light can be sold, restricting sales to authorised tobacconists who hold a specialised licence.
Furthermore, these businesses would be required to use ‘authorised tax warehouses’ and under particular supervisory measures’.
Read more https://businessofcannabis.com/italy-makes-fresh-push-to-regulate-cannabis-light/
Sean Hocking
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