Canadian Bank Note Company proposes tax product traceability technology to Gabon

This technology aims to combat counterfeiting, tax fraud, and revenue losses by improving the traceability of products subject to excise duties, thereby increasing state resources. Fuencisla Santiago, Vice President for Development and International Affairs at CBNC, stated that research based on World Health Organization data suggests this program could significantly benefit Gabon, particularly by increasing revenue for the population. The proposed system focuses on products highly susceptible to fraud, such as tobacco, alcoholic beverages, medicines, cosmetics, and certain sugary drinks.

CBNC emphasized that these products require a higher level of control. The additional revenue generated could be reinvested into priority sectors like public health. This initiative aligns with Gabon's efforts to modernize economic and fiscal control mechanisms, addressing the growing scale of fraud and counterfeiting to secure distribution channels and state revenues.