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Sustainable and Phygital Innovation Driving Tax Stamps in India

India is the largest market in the world for liquor tax stamps, given that 27 states consume 30-35 billion tax stamps annually. While tax stamps at a global level are mainly used on tobacco products as part of a federal scheme, the situation is different in India, where almost all stamps in circulation are used on alcoholic beverages at the individual state level – and no stamps are used at all on tobacco products.

Technology - November 5, 2024 midnight

15 Years and Counting – Part 4

It was 15 years ago, in July 2009, that the very first Tax Stamp News™ (now called Tax Stamp & Traceability News™) was published. To mark the occasion, we thought it would be interesting to go back in time, to the main news items covered by the newsletter between 2009 and today, and how they have developed over this period.

Editorials - November 5, 2024 midnight

How Retailers Create Demand for Counterfeit Brands – and what to do about it

According to experts from Brand Monitor, an online and offline market surveillance company, the demand for counterfeits of specific brands is generated not so much by end consumers as by retailers, who tend to piggyback off the marketing campaigns and reputation of brand owners, and then attract consumers with the offer of lower prices.

Illicit Trade - November 5, 2024 midnight

De La Rue to Exit Tax Stamps as Crane Comes in

Following De La Rue’s announcement, a few months ago, that it was in discussions with several parties interested in acquiring one or both of its businesses – Authentication and Currency – the company has now entered into a definitive agreement for the sale of its Authentication division to Crane NXT, for £300 million.

Organisations - November 5, 2024 midnight

Illicit Cigarettes Declining in EU but Rising in Europe, Claims KPMG Study

KPMG has released its latest annual study on illicit cigarettes in Europe1, commissioned by Philip Morris Products SA. The study shows that while illicit consumption in the 27 EU member states declined by 0.6 billion sticks in 2023, to reach 35.2 billion, overall illicit consumption in the 38 markets covered by the study rose by 3%, reaching 52.2 billion sticks.

Free - September 25, 2024 midnight

E7 Group Injects $50 Million into Security Solution Growth

UAE-based E7 Group, a provider of commercial printing, security solutions, sustainable packaging, and logistics services, has announced a significant AED 182 million (approximately $50 million) investment in its security solutions division, E7 Security.

Organisations - September 25, 2024 midnight

Pakistan Takes New Steps to Improve Tax Revenue Streams from Major Industries

Recognising the importance of track and trace systems for curbing tax evasion in key industries such as tobacco, cement, sugar, and fertiliser, the new Prime Minister of Pakistan, Shehbaz Sharif, has constituted a 10-member task force to address the technical, legal, and administrative challenges hindering the progress of such systems.

Track and Trace - September 25, 2024 midnight

Excise Revenues Soar in The Gambia Thanks to Tax Stamps

Between January and August this year, Gambia Revenue Authority (GRA) collected GMD 48,470,427.78 ($702,000) in excise duties, compared to just GMD 6,312,608.78 ($91,000) the previous year. This significant increase represents more than 800% of the country’s total excise revenue mobilisation.

Tax - September 25, 2024 midnight

15 Years and Counting – Part 3

To mark 15 years since the first Tax Stamp News™ was published, Tax Stamp & Traceability News™ is going back in time to the main news items covered by the newsletter between 2009 and today, looking at how they have developed over this period.

Editorials - September 12, 2024 midnight

UK to Abolish Duty Stamps on Spirits

Those round-shaped magenta discs that, since 2006, have adorned the labels of UK spirits and wine bottles, as a visual proof of duty paid, now look set to disappear, following a government announcement that the discs will be abolished once a review by HM Revenue & Customs (HMRC) has taken place.

Alcohol-Beverages - September 2, 2024 12:01 a.m.

Royal Mail Launches App to Detect Counterfeit Stamps

Following complaints over £5 fines being dished out to the recipients of letters and parcels suspected of carrying counterfeit postage stamps, the UK postal service, Royal Mail, has launched a scanner tool in its app that lets customers check if a stamp is counterfeit.

Technology - September 2, 2024 midnight

GCMD Partners with Authentix for Biofuel Supply Chain Trial

The Global Centre for Maritime Decarbonisation (GCMD) has completed a two-year pilot study aimed at ensuring supply chain integrity and fuel authenticity for drop-in green fuels (ie. renewable fuels made from biomass sources that can be blended with petroleum products).

Technology - September 2, 2024 midnight