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The province announced Thursday it has signed a Coordinated Vaping Products Taxation Agreement with the federal government which will apply provincial tax at the same rate as the federal tax.
Finance Minister Jill Burridge and Health Minister Mark McLane issued a joint statement on the agreement, which they say will help curb vaping by young people.Starting Jan. 1, 2025, P.E.I. will impose a tax of $2.24 for each two millilitres for the first 10 millilitres of vaping substance in a product and $2.24 per 10 millilitres for larger volumes.
The tax will apply to all vaping substances, regardless of nicotine content, but will exclude vaping devices and substances already subject to cannabis excise duty. "The framework is designed in part to reduce vaping among youth," the statement read."Signing this agreement will help reduce vaping-related illnesses and ensure the collected revenue comes back to Islanders.”
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