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.
“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.