Ontario is poised to implement an increase in the cost of vaping products through the introduction of a provincial excise duty, as outlined in the recent fall economic statement by Finance Minister Peter Bethlenfalvy.
The proposed tax measure will effectively augment the existing federal duty rates, resulting in a significant rise in the tax on vaping products.
The government believes that this tax will slow the trend of vaping, particularly among the youth demographic.
Under the new tax structure, manufacturers and importers will be required to pay an excise duty of $2 for every two millilitres of vaping liquids for the initial 10 millilitres. Subsequent volumes will incur a duty of $2 per 10 millilitres.