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Illicit trade and counterfeiting not only reduce turnover and profit for honest businesses and local producers: they also cause Revenue agencies to lose tax income.
Failure to declare imported goods, miss-declaration of their nature or value and under-declaration of local production quantities similarly undermine governments' ability to invest in social services, infrastructures, schools and public health programmes.
Being able to detect fraud and enforce tax regulations is crucial to protect revenue, especially for developing countries which rely heavily on custom duties on imported goods.
We provide sophisticated monitoring and auditing tools allowing governments to tackle illicit trade, offering a secure, field-proven authentication and traceability platform.
To address this challenge SICPA provides solutions that offer: