In the last quarter of 2016, Kenya Revenue Authority (KRA) launched a new generation tax stamp
that enables distributors, retailers and consumers to verify authenticity of cigarettes, wines and spirits by use of an application on a smartphone.
United Kingdom (UK)-based Oxford Economics is hopeful for a marked decline in illicit cigarette trade this year with the full year implementation of the tax stamp
system of the Bureau of Internal Revenue (BIR).
Islamabad -- The tax stamp
proposal recently floated by Federal Board of Revenue has created havoc among local and multinational cigarette manufacturers.
But the good news is that we have received notification that we are to receive a one-year contact extension (on the tax stamp
contract for the Middle East) although we haven't actually signed yet, but that contract will be made at our site in Washington."
According to the penalties chart enclosed in the Cabinet decision, a person who possesses or handles designated excise goods that do not carry a mark - the digital tax stamp
- will incur a penalty of Dh50,000 and 50 per cent of the excise tax due on the designated excise goods.
With the avowed aim of reversing the trend, GRA has adopted about 12 strategies to reach its revenue target in 2019 and among these strategies are identifying and blocking revenue leakages, full implementation of Excise Tax Stamp
, broadening the tax net, among others.
Corinne Murcia Giudicelli from the International Tax Stamp
Association (ITSA) presented the first session paper on the case for combining opto-digitai technology for smart authentication and traceability.
In 2014, BIR started implementing tax stamp
system to address the issue on illicit tobacco products.In its revenue memorandum circular No.
According to the penalties chart enclosed in the Decision, a person who possesses or handles Designated Excise Goods that do not carry a Mark (Digital Tax Stamp
) incurs a penalty of AED50,000 and 50% of the Excise Tax due on the designated Excise Goods.
In fact, the GRA team was shocked at this, since it had held meetings with the manufacturers on how to emboss the tax stamp
, and have cautioned against issuing the stamps to wholesalers.
We have a huge production capacity for producing tax stamps
. We have developed complete end-to-end track and trace systems for tax stamp
users, integrated with mobile/web-based and SMS applications.