Digital Tax Verification
Governments around the world face many challenges arising from the counterfeiting and diversion of taxable products. The extent of this problem is significant and costs billions in tax revenue that should be paying for healthcare, education and other vital services.
By adopting a robust, cost-effective and proven system from FractureCode, governments can protect themselves against illegal tax evading practices and therefore increase the total excise tax revenues they collect.
Benefits for the government:
- Offers greater control and security for tax authorities compared to traditional systems
- Reduced administrative burden for government and fully aligned with moves towards e-government
- Aligned with expected requirements of the WHO Framework Convention on Tobacco Control
- Cost effective to implement and run for both smaller and bigger manufacturers
- Every stakeholder in the supply chain can easily authenticate products – this facility can even be made available to consumers
- Increased excise collection
If you would like to know more about how FractureCode could help to protect your products, please contact us directly via our contact page.