Last month, the UK House of Commons debated the current state of regulatory and legal hurdles negatively affecting the development of psilocybin-based (the psychedelic compound most commonly found in ‘magic mushrooms’) therapies for mental and physical health disorders in the UK. The debate resulted from an e-petition, which garnered 11,824 votes in February this
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Getting into the Weed(s): Representing Marijuana Businesses in Tax Matters
Increased legalization of marijuana at the state level has led to the rapid growth of marijuana production and distribution companies. These companies have to deal not only with the normal federal tax consequences of running a business but also with the unique federal tax consequences of running a business that is technically illegal under federal…
UAE Defies Global Trend Towards Cannabis Liberalization
As the cannabis industry is growing across much of Western Europe and North America, businesses would be wise to familiarise themselves with the UAE framework to avoid any unintended consequences as seen in the recent case of Billy Hood (see here). The UAE maintains a strict zero tolerance policy on the use of cannabis…
UAE Zero Tolerance Policy on Cannabis
There have been multiple headlines concerning the recent imprisonment of a British football coach (Billy Hood) in the UAE who was found to be in possession of CBD vape oil that contained elements of THC, the psychoactive component of cannabis. Whilst legal in the UK and other western countries it is strictly prohibited in the…
Introducing Baker McKenzie’s Global Cannabis Dashboard: The Regulatory Landscape Across 112 Markets
We are extremely pleased to announce the launch of our Global Medical Cannabis Dashboard, a new interactive tool covering cannabis regulatory regimes in 112 countries (and counting) across the world. We reached out to our global network of healthcare regulatory specialist lawyers across 39 Baker McKenzie offices and 70+ of our correspondent firms and asked…
Who’s Afraid of Code Section 280E?
This article referenced in this post was originally published in Volume 99, Issue 11, of CCH’s Taxes—The Tax Magazine (November 2021).
In the November 2021 edition of International Tax Watch in TAXES – The Tax Magazine, Tom Firestone, Scott Frewing, Ethan Kroll, Erika Van Horne, Stewart Lipeles, and Julia Skubis Weber explore the U.S.…
Implementing Thai Regulations on Cannabis and Hemp in Food Products
Towards the end of July 2021, Thailand’s Ministry of Public Health (MOPH) issued a notification under the Food Act regarding food products which contain cannabis or hemp parts as a publication in the country’s Government Gazette. The notification, among other things, sets forth the classification of food products containing cannabis or hemp parts (“Food Products”)…
Implementing Thai Regulations on Cannabis and Hemp in Food Products
Towards the end of July 2021, Thailand’s Ministry of Public Health (MOPH) issued a notification under the Food Act regarding food products which contain cannabis or hemp parts as a publication in the country’s Government Gazette. The notification, among other things, sets forth the classification of food products containing cannabis or hemp parts (“Food Products”)…
Thailand Continues to Carve Out Certain Cannabis and Hemp Plants from Regulation; What This Means for the Future of Cannabis in the Country
Over the past few months, Thailand and its Ministry of Public Health (MOPH) have taken strides to deregulate certain cannabis and hemp plants. These actions have the potential to change the future of the cannabis and hemp industry in Thailand, in ways that are set out in further detail below.
I. Thailand’s Ministry of Public…
USDA Issues Final Rule for Hemp Production
The U.S. Department of Agriculture (“USDA”) released on January 15, 2021, a final rule package designed to serve as the framework for a U.S. hemp industry that gained federal legal status a little more than two years ago. The 301-page package delivers some changes from an October 2019 interim final rule that provided initial guidelines…