NAIROBI– Kenya will next week host a three-day international forum on tax stamp, which is to be held in Africa for the first time, organizers said on Saturday.
The Tax Stamp Forum, which will take place in Nairobi from Monday, will broadly discuss the latest developments in tax stamp systems as well as best practices in developing and enforcing tax stamp programs, said Kenya Revenue Authority (KRA), a co-host of the event.
“The forum will also discuss the new tax stamp standard and the latest advancements in smartphone applications for use in verification of tax stamps and products,” KRA said in a statement issued in Nairobi.
It said the Tax Stamp Forum is a global event that focuses on strategic and practical solutions to protect government revenues and combat the illicit trade in goods.
“The choice of Kenya as the country to host this forum reaffirms its global reputation of embracing innovative and facilitative technologies in enhancing service delivery including tax compliance,” KRA said.
The tax body said the forum will bring together government excise and customs agencies, investigators, law enforcers, regulators, manufacturers as well as distributors and security printers.
“Other supply chain specialists will also attend the event which will be characterized by a lively mix of speeches, panel discussions and interviews,” it said.
According to KRA, implementation of the Tax Stamp programs seek 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.
KRA said more than 150 revenue agencies use tax stamps to collect valuable tax duties and excise payments, involving the worldwide production of some 140 billion stamps annually.
Two years ago, KRA introduced enhancements to its excise stamp program 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 more than 609 offenders.
Source: NAM NEWS NETWORK