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Key Role for Global Tax Stamp Body as it Joins BSI

28 April 2016

April 26th 2016

The International Tax Stamp Association (ITSA), which is driving awareness of the global role and impact of tax stamp technology, has become a member of the British Standards Institute.

The move is a further step towards formalising its relationship with the International Standards Organisation (ISO) and comes as ITSA lends its support to the proposed introduction of a new international tax stamp standard (ISO 19998).

This has moved a step closer with plans to publish an initial draft for public consultation in the second half of 2017, followed by adoption before the end of that year.

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.
 
Over 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.
 
Chairman Juan Yanez said: “ITSA is the collective voice for those involved in tax stamps and is actively contributing to the drafting process associated with the ISO19998 tax stamp standard.

“Joining BSI is another major step forward for us as we look to broaden the scope of our reach and impact, and actively support the development of the new standard. Members and those involved in the wider tax stamp industry will welcome the move.”

Independent from tobacco and other manufacturers of excised goods industries, ITSA was founded by a number of leading industry companies and stakeholders to ensure the better understanding of the benefits of tax stamp technology and to promote the highest professional standards within the sector. To this end, one of its key objectives is to support and promote the introduction of the ISO 19998 standard for tax stamps.

Members are Advanced Track and Trace, Ashton Potter Security Printers, Chanwanich Security Printing, Holoflex, Holostik India, Manipal Technologies, OpSec Security, SICPA, Surys (formerly Hologram Industries), Thomas Greg & Sons de Colombia, Allexis sro, Jura JSP, Luminescence, and Rolland Enterprises.

ENDS

Issued on behalf: The International Tax Stamp Association. Contact Nicola Sudan on +27 21 911 0170 or nicola@reconnaissance-intl.com

Media enquiries: Andy Bruce or Ian Watson, MHW PR Ltd. Tel. +44 191 233 1300 or email andy@mhwpr.co.uk or ian@mhwpr.co.uk

 

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