Luxembourg to Impose a 50% Tax on CBD

October 15, 2019 15:00:06

Very few products could lay claim to the versatility that CBD offers consumers. Derived from the hemp plant, this non-psychoactive cannabinoid has been making waves recently, primarily because it is packed with a plethora of medical benefits. CBD can be used to address insomnia, chronic pain from arthritis, anxiety and a host of other conditions. Naturally, a product with this many benefits is bound to have a lot of demand, and high demand usually results in higher prices and higher profit margins.  This has attracted a ton of sellers, each looking to make a buck or two from the new wonder drug.

The business has especially been booming in Europe; sellers have been making a killing with turnovers of up to €100 million. New entrants have been flocking to the CBD industry, trying to get a hold of all the money that’s been going around. However, the relatively new sector in Luxembourg might face a slump even before it really picks up after a 50% tax was imposed on all CBD products. Previously, CBD had been taxed the standard…


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