Computerisation approved to cut excise duty fraud
Personal care product companies and their retailers will be able to work with a computerised administration of excisable perfume and cosmetics goods within the EU in future following a decision by the EU Council of Ministers. It has approved a directive regulating a new computerised monitoring system for excised goods in all 27 EU member states. A council communiqué said: “The computerised system will offer a simplified, paperless environment for business and will facilitate more integrated and faster monitoring for the authorities.” A key aim of the new system is to detect excise duty fraud, which costs the EU millions of Euros annually.
Personal care product companies and their retailers will be able to work with a computerised administration of excisable perfume and cosmetics goods within the EU in future following a decision by the EU Council of Ministers. It has approved a directive regulating a new computerised monitoring system for excised goods in all 27 EU member states. A council communiqué said: “The computerised system will offer a simplified, paperless environment for business and will facilitate more integrated and faster monitoring for the authorities.” A key aim of the new system is to detect excise duty fraud, which costs the EU millions of Euros annually.