Tax stamp industry creates trade body

| February 5, 2016
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As well as providing visible proof of tax payment and revenue collection, tax stamps have also taken on product authentication and anti-tampering applications

Leading players in the tax stamp industry have established The International Tax Stamp Association (ITSA). The new body’s mission is to contribute to a better understanding of the benefits of tax-stamp technology and to promote the highest professional standards within the sector.

More than 250 revenue agencies (national and state governments) around the world 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 product authentication and anti-tampering applications.

Against this background, the new organization will promote the benefits of tax stamps for excise duty collection, educate customs and revenue agencies on how they can better secure excise revenues (mainly from tobacco and alcohol products) and share best practice among those involved in the industry.

More specifically, by providing a collective voice for those involved in the design, manufacture and use of tax stamps, ITSA will also seek to engage and actively contribute to the drafting process associated with the proposed ISO19998 standard.

The new standard is currently under development with the aim of improving the overall quality of tax stamps. This includes such factors as establishing the type of security characteristics required, clarifying the primary functions of tax stamps and improving their effectiveness as a tax collection and criminal-fighting tool.

Following the formal signing of the articles creating the association, the founder members have elected a five-member Board of Directors. Its members are Michel Mariton of Hologram Industries, Zbigniew Sagan of Advanced Track & Trace, Manoj Kochar of Holoflex, Christine Macqueen of SICPA and Juan Yanez of Thomas Greg & Sons de Colombia, who was elected Chairman.

“I am honored to being taking part in the formation of the International Tax Stamp Association and look forward to working with the Board and members to deliver on our core objectives of support, education and advocacy in the development of standards and the promotion of tax stamps,” says Yanez.

“Tax stamps play a fundamental and essential role in collecting important and highly valuable revenues across the globe. In bringing together representatives from all parts of the industry, the creation of the new association represents a highly significant step in helping to ensure that effective collaboration and best practice is maintained between the industry, regulators and policymakers.”

Reconnaissance International has been formally appointed as the Secretariat of ITSA and Nicola Sudan of Reconnaissance is the Secretary General of the new trade body.

Membership of ITSA is open to legally incorporated companies and businesses that supply tax stamp components and features, as well as finished tax stamps, equipment for stamp design, manufacture, application and authentication, and systems for coding and marking stamps.

Further details are available at www.tax-stamps.org.

 

 

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