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Wednesday, May 22, 2024

New tax stamp standard focus of international industry forum

Tax Stamp Forum 2017, Berlin, 31.1. / 1.2.2017, Copyright Raum11/Jan Zappner

New insight into the forthcoming tax stamp standard will be on the agenda at this year’s Tax Stamp Forum, supported by the International Tax Stamp Association (ITSA).
ISO 22382, which is set to come into force in 2018, comes against the backdrop of a global market, where some countries or regional states have stamp programmes for collecting tax, while large parts of the world possess little or no such initiatives.
The move will raise the bar for the broader sector and facilitate a strong degree of parity and harmony, all countries using stamps, and those not using them, will benefit from access to programmes that are in line with the best and most effective on the market.
At the Tax Stamp Forum, which takes place from May 7th to 9th in Nairobi, ISO 22382 project leader Ian Lancaster will lead a workshop describing the main sections of the standard and offer practical examples of how they can be implemented, before a session on the latest advances in smartphone developments for tax stamp programmes.
Other presentations will cover international tobacco regulations and lift a lid on the success of tax stamp programmes in Africa, where initiatives in countries such as Kenya are proving an effective weapon in the battle to secure excise revenues.
General Secretary of ITSA, Nicola Sudan, said: “The forum will shine a light on innovation as tax stamps continue to contribute to unlocking a greater contribution to the fight against fraud and protecting organisations and citizens.
“Moreover, delegates will find out how the technology’s adaptability will drive closer integration with traceability and data driven systems, revealing the potential for new applications in areas such as big data and other large volume data capture applications.”
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 product authentication, anti-tampering and track and trace applications.

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