Published 12/07/2023 - 12:31
The duty- and tax-free industry faces significant losses due to illicit trade, counterfeiting, and intellectual property theft, which negatively impact legitimate businesses operating within a tightly controlled and transparent supply chain. The industry's reputation is also harmed when fraudulent goods are falsely labeled as 'duty-free,' a global problem affecting various products. To combat these issues, the Duty Free World Council (DFWC) and Tax Free World Association (TFWA) adopt a zero-tolerance approach towards illicit trade and expect the same high standards from all stakeholders. Illicit trade, in all its forms, is seen as a blight upon society, funding criminal activities, terrorism, human trafficking, and hindering future brand investments. To address these concerns, industry retailers and suppliers are urged to sign an anti-illicit trade statement and encourage their business partners to adopt a zero-tolerance stance as well. These commitments aim to eliminate illicit trade and reinforce the duty- and tax-free industry as a secure and trusted retail channel, aligning with existing pledges made to the UN Global Compact, particularly in combating corruption.