The LIT tax stamps solution provides a wide range of security features in multiple levels.
In August last year, the government, through the APO, opened the bidding process for a contract to supply the security technology for the tax stamp project at an approved budget of P1.75 billion.
Last November, the APO awarded the project to IRSIS Corp., a joint venture of four information technology firms -- CAI-STA Philippines, Inc., Philcox Philippines, Inc., Latent Image Technology Ltd., and Comclark Network and Technology Corp.
Ms. Jacinto-Henares said that upon the scheme’s rollout, cigarette manufacturers will need get certification from the BIR that they have paid the taxes due before the APO can give them the security stamp.
“They will need to put the stamp on every pack of cigarettes they will release to the market,” she explained.