Revenue Commissioners introduce new tax stamp for tobacco products
New tax stamp contains enhanced security features to guard against counterfeiting and fraud
25 March 2015 | 0
The Revenue Commissioners are introducing a new tobacco tax stamp for cigarettes and fine cut tobacco used in “roll your own” products. The new stamp will start appearing on packets next month.
The new tobacco tax stamp contains enhanced security features to guard against counterfeiting and fraud. The new stamp and the old stamp will both feature on tobacco products for a short period. The old stamp will then be phased out as stocks are sold or depleted.
Since the government announced its intention to introduce plain packaging on tobacco products, counterfeiting and fraud has become even more of a contentious issue for many law-abiding retailers.
Retail associations including the CSNA and NFRN Ireland have highlighted the negative impact plain packaging will have in helping the black market to prosper further, based on evidence from retail colleagues in Australia.
A recent study by KPMG showed the black market had grown by 25% in Australia since the introduction of plain packaging, costing the Australian government an estimated €800 million in lost taxes in 2014.
Meanwhile, Revenue has advised businesses or members of the public that if they have any information regarding the smuggling or sale of illegal cigarettes or tobacco, they can contact its offices in confidence on free phone number 1800 295 295.