Tax stamp group expands

The recently formed International Tax Stamp Association (ITSA) has secured five new members since the start of 2016 as part of ambitious plans to highlight the global role and impact of tax stamp technology.

The move sees Allexis, a Slovakia-based provider of the Tax Stamps Information System, and Armenia’s AM-PG Group, which produces serialized tax stamps for consumer products, join the initial 10 founder members of ITSA.

Also new to ITSA are Hungary’s Jura JSP, which designs software used by security printers; the UK’s Luminescence, a leading supplier of security tax stamp inks; and Canada-based Rolland Enterprises, which supplies security paper used in tobacco stamps.

The growing recognition of the critical role of excise tax stamps prompted a number of leading industry companies and stakeholders to come together to form ITSA.

More than 250 revenue agencies (national and state governments) around the world use tax stamps to collect valuable tax duties and excise payments, involving the worldwide production of some 140 billion stamps annually.

As well as providing visible proof of tax payment and revenue collection, tax stamps have also taken on product authentication and anti-tampering applications.

ITSA is working towards ensuring a better understanding of the benefits of tax stamp technology and that the highest professional standards are observed within the sector.

“I welcome the new members and look forward to their involvement in helping ITSA with its core objectives of support, education and advocacy in the development of standards and the promotion of tax stamps,” says Chairman Juan Yanez

“We are providing a collective voice for those involved in tax stamps by actively contributing to the drafting process associated with the ISO19998 tax stamp standard, which could come into force next year.”