Products such as alcohol and tobacco are subject to excise duty. Tax stamps on excise goods help to drive government revenue via tax, drive down counterfeit products and play an integral part in the track and trace of these products. However, in the EU alone, counterfeit wine and spirits cost the drinks industry €2.7bn in direct sales according to the European Union Intellectual Property Office (EUIPO) proving that tax stamps can still lead to illicit goods entering the market. Meanwhile, at an investigation into beer duty fraud, the then deputy director of alcohol, tobacco and gambling taxes for HMRC stated that it is in fact possible to counterfeit duty stamps.
This is where our anti-counterfeiting for tax stamps comes in.
Q-IDs, due to its flexibility of design and sizing as a quantum signature, are helping to redefine human security and identity on a global scale, something that will be paramount in combating increased counterfeiting in government passports.
While anti-counterfeiting technologies within tax stamps have advanced, vulnerabilities still exist; it is these vulnerabilities which have resulted in a significant rise in the counterfeiting of tax stamps and fake excise goods entering the market.
This poses problems across industries such as pharmaceuticals, alcohol and tobacco. While the threat of counterfeit products damages brand and product reputations, counterfeit tax stamps also hamper government revenue as they are unable to tax elicit goods.
At Quantum Base we have created the world’s first unbreakable anti-counterfeit tag, our Q-ID® solution, which cannot be copied, cloned or faked. These are authenticated by a standard smartphone in real-time, redefining product security and revenue protection on a global scale as well as streamlining supply chains.
The rise in global connectivity has created a lucrative environment for the forging of elicit goods and the loss of government revenue. Anti-counterfeiting for tax stamps can help to stop this market.
With Q-ID® manufacturers can:
Simple to make and yet impossible to copy, Q-IDs from Quantum Base provide the ultimate in tax stamp authentication.