Tax stamps to curb smuggling
Tax stamps on alcohol and tobacco products are being proposed as a way to raise extra revenues and clampdown on smugglers according to the results of the first Tax Stamp Forum held in Budapest this week.
Tax stamps on alcohol and tobacco products are being proposed as a way to raise extra revenues and clampdown on smugglers according to the results of the first Tax Stamp Forum held in Budapest this week.
Representatives from some 33 countries met to discuss ways in which governments can guarantee excise duties from alcohol and tobacco in face of increased smuggling and fraud activities across the world.
The forum heard how treasuries around the world are losing billions of dollars a year in lost revenue and how excise evasion is one of the toughest battles anti-counterfeiting and law enforcement agencies face.
New security inks, substrates, holograms and digital tax stamps among other
technologies are seen as vital in fighting the fraud battle. Delegates heard how Indonesia has seen a fivefold increase in tax revenue after introducing a secure tax
stamp.
Similar programmes are also underway in the UK, Kosovo, Serbia,
Colombia, Kyrgyzstan and in the US
The forum also discussed the increase in poisoning and deaths due to fake, illicit or substitute alcohol flooding into markets where anti-counterfeiting measures are not as vigilant.
Further information can be found at www.taxstampforum.
Tax stamps on alcohol and tobacco products are being proposed as a way to raise extra revenues and clampdown on smugglers according to the results of the first Tax Stamp Forum held in Budapest this week.
Representatives from some 33 countries met to discuss ways in which governments can guarantee excise duties from alcohol and tobacco in face of increased smuggling and fraud activities across the world.
The forum heard how treasuries around the world are losing billions of dollars a year in lost revenue and how excise evasion is one of the toughest battles anti-counterfeiting and law enforcement agencies face.
New security inks, substrates, holograms and digital tax stamps among other
technologies are seen as vital in fighting the fraud battle. Delegates heard how Indonesia has seen a fivefold increase in tax revenue after introducing a secure tax
stamp.
Similar programmes are also underway in the UK, Kosovo, Serbia,
Colombia, Kyrgyzstan and in the US
The forum also discussed the increase in poisoning and deaths due to fake, illicit or substitute alcohol flooding into markets where anti-counterfeiting measures are not as vigilant.
Further information can be found at www.taxstampforum.
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