Vertical Markets

ITSA seminars

by Mark Rowe

Two webinars by the International Tax Stamp Association (ITSA) cover tax stamps and securing revenues as international supply chains continue to be threatened by counterfeiters and smugglers, taking advantage of the pandemic to trade in illicit tobacco, the trade body says.

The trade in fake tobacco is worth between $40 billion and $50 billion annually worldwide, according to a 2020 World Bank report, and churns out more than 600 billion fake cigarettes.

Properly implemented tax stamp and traceability programmes can help governments protect and recoup much-needed revenues as they battle to get their public finances back on track, says ITSA.

The first seminar, open to NGOs, academic institutions and tax stamp producers and authorities, considered best practices for tobacco control and tax collection, set against the backdrop of the World Health Organisation’s (WHO) Framework Convention on Tobacco Control (FCTC) Protocol to Eliminate Illicit Trade in tobacco products. As for African countries who are party to the WHO FCTC Protocol to Eliminate Illicit Trade in Tobacco Products but do not yet have a tax stamp or traceability system in place, they have until 2023 to implement secure track and trace on tobacco products.

The second event on Thursday, December 3, will examine how greater traceability is key to a lawful tobacco market and increased tax collection as the pandemic continues. It will also look at tax evasion calculation techniques and estimates in Mexico and Latin-American countries as identified by Michel Jorratt, former director of the Chilean tax administration and now adviser to the IADB and World Bank.

The seminars come as ITSA looks to reach out to countries and regions who don’t have tax stamp programmes to share its knowledge of excise administration and track and trace systems, as well as global best practices. This sees the association supporting Dr Adriana Blanco, head of FCTC Secretariat, in her call anti-tobacco organisations to provide tailored assistance to parties where implementation of the FCTC is weak.

Juan Carlos Yañez, chair of ITSA, pictured, said there is an opportunity for the tax stamp sector to show Dr Blanco, who heads the FCTC secretariat, how it can contribute to efforts to drive forward the implementation of tobacco control initiatives, at a time when some parties are putting it to one side to focus on the pandemic.

He said: “The need for tax programmes has increased dramatically in the global coronavirus pandemic, which has seen government revenues plummet, deficits rise, and debt levels swell to eye-watering proportions. Whether your country, state or jurisdiction currently uses a tax stamp scheme or is considering introducing such a scheme, it would be worth finding out what a modern initiative can deliver and why now is the right time to introduce or expand your current scheme.”

Webinar attendees can discuss the importance of production monitoring and the need for a Global Information Sharing Focal Point (GISFP) that facilitates the exchange of important data and best practice between countries.

For details of the ITSA seminars visit https://tax-stamps.org/events/.

About ITSA

It was founded in 2015 by several industry companies and stakeholders.

More than 150 revenue agencies (national and state governments) globally use tax stamps to collect valuable tax duties and excise payments, involving the worldwide production of some 140 billion stamps annually. As well as providing visible proof of tax payment and revenue collection, tax stamps have also taken on a key role in product authentication, anti-tampering and track and trace applications.

Related News

Newsletter

Subscribe to our weekly newsletter to stay on top of security news and events.

© 2024 Professional Security Magazine. All rights reserved.

Website by MSEC Marketing