Increased Revenue for Liquor Consumption Tax in the State of Quindio

The Ministry of Finance and Public Credit, through the Directorate of Support Fiscal DAF makes a Report Fiscal Viability which assess the tax situation of each of the 32 departments in order to present their findings to Congress . This is a function assigned by Article 26 of Law 617*.

The Report Fiscal Viability made to the Department of Quindio, which has our Holographic Tax Stamps to protect their revenues, found that the Liquor consumption tax increased their revenues of 13% in 2015 over the previous year. See table below**:

tabla-3

* SEE REPORT

** SEE REPORT FOR QUINDIO

By consulting the report of other departments, which use tax stamps from other suppliers, we found the following results *:

aumento-impoconsumo-quindio

*HERE YOU CAN SEE ALL THE REPORTS FOR DEPARTMENT

As it is shown in the graph, analyzing 18 departments including the Atlantic Coast, Santanderes, Great Tolima, Cundinamarca, Llanos Orientales, Eje Cafetero, Valle del Cauca and Antioquia; Quindio is the only one Department that showed a double-digit increase in its collection by Liquor Consumption Tax.

Only Boyacá, Caldas, Santander, Cundinamarca y Córdoba has incresings between 1% and 2%; other departments evaluated presented decrements ranging from -1% to -31% or -33% as was the cases of Antioquia and Norte de Santander.

These information shows that having an element of high security as the Figurazione tax stamp, linked with rigorous control operations, training and technological support, allows us to keep winning this daily fight against Illegality.

FIGURAZIONE

Increase in consumption of FIGURAZIONE´S Tax Stamps in the State of Quindio

At the end of 2015 a Management Report was made about the Brand Protection System implemented by FIGURAZIONE in the State of Quindio to protect Tax Stamps against the Counterfeiting.

In Beers, Liquors; as well as National and Imported Origin products, there has been evidenced increase in the consumption of Tax Stamps provided by Figurazione. This demonstrates the battle that we keep given to illegality.

Newsletter Figurazione – 11 02 16 TAX STAMPS CONSUMPTION QUINDIO 2015

FIGURAZIONE in Tax Stamps News from the European Reconnaissance International Company

The European RECONNAISSANCE INTERNATIONAL COMPANY presented in its issue No. 11 of the Tax Stamp News Reconnaissance publication the results achieved by the Brand Protection System implemented by FIGURAZIONE in Quindio Governorship to protect against counterfeiting Rent Stamps.

Once again is evident that the Brand Protection Systems implemented by FIGURAZIONE meets the goal of cost-benefit analysis.

Newsletter Figurazione – 18 12 15 TAX STAMPS NEWS RESULTS QUINDIO STAMPS

“Figurazione’s Tax Stamp Programme Helps Quindío Increase Revenues               The systems integration specialist, Figurazione, which provides liquor tax stamps to the Colombian state (or rather department) of Quindío, has reported a 35.3% increase in the consumption of tax stamps for 2014, compared to consumption in the previous year. This corresponds to an 8% revenue increase for the department. Colombia is unusual in the sense that all excise taxes from both tobacco and alcohol fall under the jurisdiction of the departments. Each department levies a consumption tax on alcohol, beer and tobacco, but only alcohol carries evidence of payment by way of a tax stamp applied to bottles and cartons of both locally produced and imported products. The Quindío tax stamp programme was developed and implemented in 2012 by Figurazione, which combined latestgeneration technologies from suppliers in Europe and the Americas to create an integrated solution for tax collection and brand protection. The programme consists of tax stamps (carrying a hologram, taggant and QR code for consumer validation), as well as a prenumbering facility, an on-site customisation system, and detection equipment for inspectors. According to a 2012 Euromonitor study, 46% of illicit liquor sold in Colombia is counterfeit, while 37% is contraband and the remaining 17% comes from illegal artisanal manufacturing. In this same study, Colombia was ranked first out of six Latin American countries in terms of liquor tax volumes lost to illicit trade in 2012 ($468 million). Ecuador came second with $128 million, followed by Peru with $117 million, El Salvador with $19 million, and Panama and Honduras with $2 million each.”

Taken From: RECONNAISSANCE TAX STAMP NEWS, VOLUME 7, N° 11, NOVEMBER 2015.

FIGURAZIONE joins the International Network of LUCIAD Certified Partner

Figurazione is now a Certified Partner of the Belgian Company LUCIAD

LUCIAD is world expert in real-time situational awareness geospatial Software components.

Being part of the network of Certified Partners Luciad will allow us to open new markets and opportunities and thereby increasing our penetration in the field of Air Navigation, Brand Protection, Defense and Information Systems.

Newsletter Figurazione – LUCIAD CERTIFIED PARTNER 2015