Can CBD Be Beneficial to College Students?

From the past few years, CBD or Cannabinoid is gaining huge popularity around the world for its amazing health benefits. It has become an essential part of adult life due to its incredible abilities to treat symptoms and stress and anxiety. Many experienced medical health experts even prefer to prescribe CBD to treat depression among college students.

There is no doubt to say that college time creates the most exciting experience for life. But at the same time, this duration can be too demanding as well. Students have to undergo a variety of troubles, including social anxiety, parental expectations, fear of career and exams as well. Sometimes these matters even become uncontrollable, and students start facing depression and stress.

Although many medications have been developed earlier to treat depression in adults; but not all of them are equally reliable. The true fact is that most of these medicals cause serious side effects. In such situations, CBD appears the best solution to deal with the troublesome symptoms of depression. Moreover, college students find it easier to consume as this natural compound these days is available in several forms.

In order to know more about how CBD can be beneficial for college students, it is good to go through the details below.

What is CBD?

Cannabidiol or CBD is one of the most popular natural occurring compounds with ultimate health benefits. It is extracted from cannabis plants such as marijuana or hemp and is further processed to create several products. You can find CBD in the form of edibles, oils, tinctures, creams, capsules and many more. These forms of CBD are easier to consume and ensure efficient therapeutic and medical health benefits.

CBD works by interacting with the Endocannabinoid system (ECS) in the human body. Note that, ECS has primarily two types of receptors, and they are located in the entire body, including the central nervous system. The major use of these receptors is to regulate mood, treat inflammation, pain response and manage sleep levels. CBD improves the production of these receptors to promote healthy functionality of the human body. With this, college students can enjoy better concentration levels and stay active all the time.

The biggest reason to use CBD for college students is that it doesn’t get high like THC compounds. CBD is basically a non-psychoactive substance, and it cannot cause addiction among students. However, its natural anti-inflammatory properties can enhance the sensory response and consciousness by a great extent.

Benefits of CBD for college students:

As already discussed, CBD leaves several positive impacts on the human body. However, if you are interested to know how it can be useful for college students, it is good to check a few points listed below:

  • Treat social anxiety:

A wide range of college students suffers from social anxiety. It can be related to public speaking or even about approaching their crush. CBD can help them to obtain a peaceful and calm state of mind. CBD Education Online can help you understand its amazing health benefits.

  • Manage test anxiety:

Many students feel nervous during exam time. Even after studying books for several hours, they get a feeling of forgetting everything right before the exam. It happens just because of stress and nervousness. CBD can help to promote consciousness and clearer state of mind. Prefer to find best CBD for tendonitis.

  • Improve sleep quality:

Millions of college students around the world are suffering from sleep problems. It has a direct impact on their routines, including class activity, studies, and extracurricular work. CBD can help students to develop a positive and healthy mindset by avoiding sleepless nights. At the same time, it improves their mental health as well.

  • Relieve physical pain:

Last but not the least amazing health benefit of CBD is its ability to relieve acute as well as chronic pain. The potential anti-inflammatory properties of this natural compound can improve joint pain and muscle health with ease.

The Heavy Impact Of Vat On The Technology Sector In Costa Rica

The Internet of things, artificial intelligence, big data, robotics … 

Are some of the advances that have been made in recent years with the aim of simplifying various tasks of our daily lives.

But if there is something that even science and technology, no matter how advanced, have been saved from: Compliance with the tax laws of the country they operate in.

There is no company that escapes its obligations to the State, regardless of its level of technology.

Companies established in Costa Rica, have to pay Value Added Tax (VAT), according to the new law No. 9635 – “Act Strengthening Public Finance”. This law came into effect on July 1, 2019.

Now, a few months in … how has VAT affected the industry? What is its economic effect? What changes have been made?
These are some of the key questions for the sector that we will address in this article about the impact of VAT on the technology sector of Costa Rica.

Taxed Technology

To start, a little background info: Before July 1 2019, what existed was the General Sales Tax (IGV – Impuesto General de Ventas), which was 13% and only applied for the purchase of products.

The new law not only came to replace the IGV with the Value Added Tax (VAT) but also to extend it to previously untaxed services.

With some exceptions, we now pay 13%, 4% or 2% for conultations, medical services, design, education, remodeling of properties, aesthetics, recreational services and others.

Regarding the purchase of technological products and services in the country and abroad – antivirus, licenses, software, computer programs, entertainment platforms – the maximum rate of 13% applies.

It also covers equipment maintenance services, custom software development, application development and network maintenance.

Blow to Competitiveness

Although the objective of the law is positive in trying to alleviate the fragile situation of public finances, it is doing so at the cost of the profitability and competitiveness of many companies, including technology.

When previously small companies only needed to hire accountants on an occasional basis, today they permanently require their services in order to fulfill the process in a timely manner; every month.

This translates into a minimum of three hours of work, which, according to the College of Private Accountants of Costa Rica, means a monthly outlay of about ¢ 72,500 (the professional time is set at ¢ 24,163). This equeals to about 130USD.

Another point to take into account is that the one who assumes the payment of VAT is the customer and the supplier is only limited to collecting the tax, generating a considerable increase in the price of services.

Let’s look at the impact of VAT on the technology industry, reflected in a hypothetical case. Suppose you have a small software company dedicated to the sale of licenses inside and outside of the country. Although for exports it will not involve any change – the tax is territorial and therefore does not apply to consumption abroad -, in relation to local sales, which are subject to VAT with a maximum of 13%.

In practical terms, this means that, if before July 1, you sold a license for $ 200, after that date you must add the $ 26 tax, for a total of $ 226 (more than ¢ 15,000 difference from at the original price).

Faced with this scenario, the provider faces two equally complicated scenarios. One is to absorb the cost of VAT and the other is to lower the service fee so that the customer continues to pay the same or a portion of the tax is transferred.
In both cases, it would be sacrificing profitability and competitiveness in exchange for not affecting the customer’s ability to consume.

A little Extra on Top – Electronic Invoices

One of the steps prior to the implementation of VAT in order to reduce tax evasion was the adoption of the mandatory electronic invoice, since 2018.

With all of this and the benefits that this entails for the taxpayer, such as greater security and integration of operations, it is still an additional investment.
Although the Hacienda’s free platform exists, there are those who prefer to hire one of the 26 suppliers authorized to provide the service, the cost of which can be up to ¢ 50,000 for the issuance of 1,000 documents. (About 90USD)

So far, we have ¢ 72,500 (130USD) monthly accountant fees, plus ¢ 50,000 (90USD) of the electronic billing package, for a total of ¢ 920,000 (1630USD) per year.
And if we add to this the training of personnel and the eventual implementation of ERP-type business management systems, the sum could become much higher.

Does this mean that the new Fiscal Plan is bad? Do we return then to the previous Sales Tax and paper bills?

Neither one nor the other. This article simply limits itself to showing the reality as it is, without ignoring the sacrifices and investments that all change demands for those involved.

What other effects does the new law have on technology companies?

What is the best strategy to face them without compromising future stability and solvency?

Tell us in the comments and we continue discussing the impact of VAT on the technology sector in Costa Rica.

To read the original article on our site in Spanish click here

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