After years of delay, the government will finally start affixing internal revenue stamps
on alcohol products to discourage tax cheats once higher excise taxes kick in by next year, according to Finance Undersecretary Karl Kendrick T.
UV fluorescing ink is an excellent printing solution to provide security in applications which are highly open to forgery such as banknotes, documents, fidelity cards, revenue stamps
BIR said the operators of the facility, which was raided by authorities on Thursday, will also face charges for unlawful possession of articles subject to excise tax without payment of tax, unlawful possession of spurious or fake internal revenue stamps
, and attempt to evade excise tax.
SHORTAGE OF STAMPS: The non-availability of judicial revenue stamps
of small denominations of Rs30, Rs50 and Rs100 has put extra financial burden on people as they have to purchase the stamp of the next denomination of Rs300.
More recently, the Philippine government, led by the Department of Finance and the Department of Health, launched a one-two punch against smoking, with an increase in excise taxes and the filing of criminal complaints for non-payment of these taxes and use of fake internal revenue stamps
. Boxing champion Sen.
The BIR said in a statement on Thursday the bureau charged Danilo de Quintos Calugay for the 'unlawful pursuit of business, failure to file excise tax returns, unlawful possession or removal of articles subject to excise tax without payment of tax, and unlawful possession of counterfeit internal revenue stamps
, all in violation of the National Internal Revenue Code of 1997.'
While there is currently no evidence linking Sicpa to the fake stamps recovered at the Thika plant, detectives are trying to unravel the puzzle of how the stamps possess the same features like the genuine stamps."It is only KRA which could import revenue stamps
into Kenya and they come directly from Sicpa's factory.
RollingStar LEAD stripe Azerbaijan's new banknote; Japan to introduce holograms on revenue stamps
; crowd-funding campaign to provide 3D ultrasound holography; holographic brain editing; holograms protect World Cup tickets; the IHMA: four on 25 years of the industry trade body; small mirrors with big impact; OpSec partners with Block-pool applications.
The issue of Revenue stamps
was used by many government departments and the Inland Revenue, to raise money for the administration and production of the many documents they provided.
Similarly, inquiries have also been ordered in separate cases against former chief financial officer Punjab Power Development Company Ikram Naveed, Vice Chancellor Sindh Agriculture University Dr Mujeebur Rehman Memon, former secretary Revenue Stamps
and Evacuee Trust Property (Sindh) Gul Hassan Channa and former Balochistan minister Muhammad Khan Shahwani among other officials.
Kenya Revenue Authority single sourced the procurement of printing, supply and delivery of security revenue stamps
worth Sh4.6 billion from SCI PA Security Solution SA Prilly, contrary to the Public Procurement and Disposal Act.