Three day 2018 Tax Stamp Forum to be held in Kenya

KRA officials serving clients. IMAGE/COURTESY

Kenya Revenue Authority and Reconnaissance will co-host this year’s Tax Stamp Forum to be held in Africa for the first time. The event will be held from 7th to 9th May, 2018.

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

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

In a press statement, KRA said that 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.

The forum will bring together government excise and customs agencies, investigators, law enforcers, regulators, manufacturers as well as distributors and security printers.

Implementation of the Tax Stamp programmes 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.

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 through 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 1,500,000 Products and prosecuted more than 609 offenders.


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Muhatia
Trust is my currency, biscuits are my best snacks. A business story by me that has sparked change, informed and made a positive difference is what makes me going. I yearn to achieve more through writing Reach me via editor@biznews.co.ke