Historic Tax Stamp Forum holds in Kenya

Tax Stampfrom MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – KENYA is hosting the first Tax Stamp Forum to be held in Africa.

The Kenya Revenue Authority (KRA) and Reconnaissance International are co-hosting the event from today (Monday) to Wednesday in the capital Nairobi.

Reconnaissance is the leading global source of business intelligence on holography and on authentication for document security, personal identification and brand protection.

Tax Stamp Forum is a global event focusing on strategic and practical solutions to protect government revenues and combat the illicit trade in goods.

Benson Korongo, the Commissioner of Domestic Taxes at KRA, said the choice of Kenya as host country to reaffirmed its global reputation of embracing innovative and facilitative technologies in enhancing service delivery including tax compliance.

The forum will broadly discuss the latest developments in tax stamp systems as well as best practices in developing and enforcing tax stamp programmes.

The summit will also discuss the new tax stamp standard and the latest advancements in smartphone applications for use in verification of tax stamps and products.

Implementation of the Tax Stamp programmes seeks to control the production and importation of excisable goods for revenue purposes.

It is specifically meant to curb illegal production, under-declaration of imports, distribution of illicit products, smuggling and counterfeiting of goods.

Globally, over 150 revenue agencies use tax stamps to collect valuable tax duties and excise payments, involving the worldwide production of some 140 billion stamps annually.

In 2016, KRA introduced enhancements to its excise stamp programme by introducing a smartphone application – Soma Label – as part of efforts to expand enforcement to the public and other law enforcement agencies.

Using the system, the authority has seized over 1,5 million products and prosecuted some 609 offenders.
– CAJ News

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button