Take action now: The April 2022 Plastic Packaging Tax UK Legislation is a Reality

In an effort to minimise single-use plastic waste and to incentivise the use of recycled material in the production of plastic packaging, the HMRC will levy a new Plastic Packaging Tax (PPT) on plastic packaging that contains less than 30% recycled plastic, is now in effect. The new tax, is charged at a rate of £200 per tonne.

SMX, a company focused on digitising physical objects on the blockchain to create a circular and transparent solution for the closed loop economy, offers an innovative solution to enable companies to comply with the 30% recycled Plastic Packaging Tax UK Legislation.

SMX’s unique drop-in marking solution survives all processing and provides plastic recycled producers and sellers with the ability to digitally and physically mark all kinds of plastic recycled materials, thus ensuring accurate and efficient auditing systems.

By utilizing this technology to achieve compliance with PPT requirements, companies shift from a linear approach to the economy to a circular one, benefiting from supply chain transparency and greater resource efficiency – such as higher rates of recycling and reduced greenhouse gas emissions.

Fully Automated:The new tax subjects companies to increased record keeping and sampling requirements. SMX’s technology will make this process automated and seamless with the ability to track and trace all products across the entire supply chain.

Digitised Certification: SMX certifies the materials, while providing plastic manufacturers and recycling companies with the ability to use technology-based auditing, thereby avoiding manual paper-based auditing processes and human errors.

Immediate Compliance: SMX’s circular sustainable solution will enable companies to comply immediately with the new legislation – via a transparent and automated reporting system for both regulation, compliance, and clients – while positioning themselves as environmentally friendly.

Significant Cost-Savings: Implementation of SMX’s solution is more cost effective than paying the PPT and will mitigate the ongoing expected expenses involved in completing these tax returns, allowing companies to lower their tax burden and their operational costs.

Benefits

  • Immediate compliance with new PPT legislation
  • Transparent and accurate reporting and auditing
  • Avoidance of additional taxes
  • Better positioning with environmental-conscious consumers

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Articles

Security Matters to provide tax minimisation as UK faces giant 30% plastic packaging tax
Security Matters is commercialising its digital blockchain platform to minimise tax on UK companies meeting the new 30% tax on plastic packaging, being introduced in April 2022.
Security Matters Limited Streamlines Compliance with UK’s Plastic Packaging Tax
Australia-based Security Matters (SMX), a firm focusing on digitising physical products on the blockchain to build a circular and transparent solution for the closed-loop economy, is now able to aid companies in complying with the upcoming 30% recycled Plastic Packaging Tax (PPT) under UK legislation.
Security Matters makes it easier and cheaper for companies to comply with new UK Plastic Packaging Tax
By being able to identify the evidence of 30% recycled plastic and the number of loop counts this plastic has gone through, IT company Security Matters (ASX: SMX)
Security Matters launches end-to-end ‘plastic circular economy’ platform
Security Matters (SMX), a firm focusing on digitising physical products on the blockchain to build a circular and transparent solution for the closed-loop economy, has announced the introduction of a full end-to-end ‘Plastic Circular Economy’ Digital Platform Service.
  • Security Matters (SMX) has announced the launch of a comprehensive end-to-end digital platform service for the ‘Plastic Circular Economy’
  • For this full end-to-end Circular Economy solution, all three elements of SMX’s unique tech IP for the plastic company will be unified into a single connected platform service
  • The Generation 2.0 Online Unit is a blockchain-enabled industrial scale identification, authentication smart sorting reader integrated on top of conveyor belts
  • SMX enhanced the capabilities of its third-generation blockchain platform to enable the recording of value chain data, from raw materials through sorting, recycling, and reusing
  • SMX’s computerized exchange platform (EXP) will allow for the distributed maintenance of electronic certificates linked to plastic units that meet the SMX technology’s sustainability standards
Security Matters (ASX:SMX): Addressing fashion’s $40-billion problem
Australian company Security Matters is taking the lead in helping the fashion industry’s attempts to address a $40-billion problem.
  • Security Matters (SMX) is taking the lead in helping the fashion industry’s attempts to address a $40-billion problem
  • The company’s technology helps producers and consumers determine if the materials they use have been ethically sourced and authenticates the finished goods
  • Given the fashion industry accounts for up to 10 per cent of the global emissions, the business believes its technology is needed now more than ever
  • SMX has already teamed up with LVMH Métiers d’Art to try and improve the transparency and sustainability of the luxury brand’s products
How Security Matters’ transformative technology solution powers sustainability and circular economies
Security Matters’ world class, digital twin physical to digital technology enables its client the transformation from linear to circular production, unlocking value for ESG investors.
Security Matters launches complete end-to-end sustainable circularity tech platform to service global plastic tsunami
As transparency surrounding origin and ownership of plastic products grows more urgent, Security Matters is already rolling out its newest online iteration of solutions which drive compliance to the highest environmental standards.
Security Matters (ASX:SMX) has successfully integrated its latest Generation 2.0 Plastic Circular Economy Online Unit with its blockchain digital platform as the tech firm digs in its foothold across the burgeoning, multi-billion-dollar global packaging-recycling industry.
  • Broad suitability, wider applications
  • SMX has expanded capabilities and flexibility of its third generation blockchain platform to enable the recording of value chain data from any production or value chain ecosystem, starting from raw material to production, sorting, recycling, and reusing.
  • The EXP SMX Platform will provide for the blockchain-based distributed management of electronic certificates associated with plastic units that meet the sustainability standards enforced by SMX’s technology.
  • The Generation 2.0 unit is an important addition to SMX’s overall recycling solution and aligns with the company’s focus on creating a closed loop economy for the plastics industry.
Security Matters Applauded by Frost & Sullivan for Enabling Digitalization of Waste Management & Recycling with Its Cutting-edge Trace and Track Technology Solutions
Based on its recent analysis of the industry, Frost & Sullivan recognizes Security Matters Limited (ASX:SMX) with the 2021 Global Waste Management and Recycling Digitalization Technology Innovation Leadership Award…
Frost & Sullivan recognizes Security Matters Limited (ASX:SMX) with the 2021 Global Waste Management and Recycling Digitalization Technology Innovation Leadership Award
  • According to Maksym Beznosiuk, Best Practices Research Analyst , Frost & Sullivan , “SMX meets customers’ needs and exceeds their expectations as various clients and partners value the performance and business influence of its supply chain integrity solutions.”
  • Beznosiuk further stated, “Its innovative iIoT2 track and trace technology ensures physical and digital tracking of closed-loop recycling, authenticates sustainability claims, and advances sorting of plastic waste.”
  • “SMX is at the forefront of providing track and trace technology materials for customers in various markets. This is due to its sizeable funding to advance the commercialization and implementation of its solutions and to its successful partnerships with various technology companies around the globe to develop plastics traceability and circularity solutions,” Beznosiuk noted. “The company’s unrivalled expertise, high-performance smart technology, and customer-centric approach are key reasons why SMX is a tech innovation leader.”
Fashion leaders turn to track and trace technology
Australian company Security Matters is taking the lead in helping the fashion industry address significant concerns around its sustainability, with solutions that also enhance brand protection…
  • The Security Matters technology offers applications across a broad range of industries. Its chemical-based marker can be applied to solids, liquids and gases.
  • Security Matters’ unique marker and reader technology allows brands to sort and reclaim raw materials that would otherwise end up in landfill. As one of the most environmentally damaging industries, the fashion industry is quickly recognising the value of SMX’s technology in transitioning to more sustainable practices.
  • Security Matters announced a collaboration with LVMH Métiers d’Art on a series of research and development projects aimed at improving the transparency and sustainability of the luxury brand’s products.
What COP26 means for fashion, and why SMX is at the forefront of the shift to sustainable production
CEO Haggai Alon flagged plans to integrate SMX’s organic cotton project into its Fashion Sustainability Competence Centre (FSCC), as the company fast-tracks its commercialisation strategy…
  • SMX is integrating its organic cotton project into its Fashion Sustainability Competence Centre (FSCC), as the company fast-tracks its commercialisation strategy
  • Working with the FSCC “will enable fashion brands and their value chain partners to future proof their business models”.
A Zero Waste Future: Security Matters Helps Companies Establish Sustainable Supply Chain Through Biotracking and Tracing Technology
The technology provides brands full visibility of the entire manufacturing process to establish a zero-waste operational system.
SMX’s digital twin platform that creates an ecosystem uniting the digital and physical worlds has the ability to create a circular economy.
  • The breakthrough of the SMX technology is the fact that with one technology, companies are able to deal with the ESG ethical sourcing component of sustainability; the waste and reuse of materials and the creation of a circular economy, thereby gaining full visibility and control of the value chain ecosystem
Security Matters expands global footprint with new recycling partnership in Singapore
The partnership will allow SMX to expand its global reach with a key footprint in the Asia-Pacific market.
The company announced that it’s become a member of the Plastic Recycling Association of Singapore (PRAS), a leading non-profit organisation that engages with key stakeholders – from large companies to government organisations.
  • The two sides will work together to identify suitable pilot projects in the regional market, along with the establishment of a Plastic Recycling Centre of Excellence (PRCOE), which will develop solutions for recycling challenges in Singapore and for Southeast Asia
Security Matters’ sustainability certification system integrates iIoT to transfigure industry 5.0 circular economy
Security Matters Limited (ASX: SMX), a solution provider for a closed loop and circular economy, launched a global sustainability system for recycled plastic content, a key component of tracking global supply chains plastic usage and waste commitments…
SMX has launched a global sustainability system for recycled plastic content, a key component of tracking global supply chains plastic usage and waste commitments.
  • As a company focused on digitising physical objects on the blockchain to enable a circular and closed loop economy, SMX takes the lead in helping major corporations track their environmental, social and governance (ESG) deliverables across global supply chains in response to rising sustainability awareness and aid in constructing a circular transaction model.
  • Besides transforming to meet measurable key performance indicators and secure ethical, ESG-compliant sourcing of raw materials in the plastics global supply chain – SMX’s certification system grades, certifies. and smart sorts recycled plastic content, thereby leading to an increased use of recycled plastic content in the global industrial ecosystem.
Recycling plastic into digital tokens; Haggai is patently disrupting plastics – Ausbiz
Haggai Alon Security Matters CEO tells David his business has a simple goal – digitising physical objects on the blockchain to enable a circular and closed-loop economy… and in that effort at least he’s got some good news – Security Matters has just completed development of first application, construction and successful testing of its industrial scale identification, authentication and sorting conveyor belt, specifically designed for the plastics industry – just what is going on? Haggai explains all…
Launch of the ‘SMX Plastic Circular Economy Online Unit’
  • The SMX Plastic Circular Economy online unit is a revolutionary conveyor belt detector system that will unlock the ability to reclaim and reuse all types of plastic content.
  • SMX completed the construction and successful testing of its blockchain enabled industrial scale identification, authentication, and quantification on a conveyor belt detector, in collaboration with its strategic partners in the plastics sector and is now ready for commercial application.
  • The SMX conveyor belt detector has been designed to meet the sorting and recycling requirements of major players in the plastics sector and the system provides valuable information on the materials flowing through the value chain to increase in recycling efficiency.
SMX flags major technology breakthrough that enables global brands and retailers to meet their sustainability goals – Stockhead Leveraging SMX’s technology, the field tests have demonstrated an advanced solution for the circular plastics economy. The field tests have shown that by using SMX’s technology, plastic products which are marked at the virgin production stage and at the waste collecting stage can become a newly used material for the plastic industry…
Security Matters introducing ‘SMX Plastic Circular Economy Online Unit’
  • SMX has completed construction and final testing of its blockchain enabled industrial scale identification, authentication, and quantification on a conveyor belt detector, in collaboration with its strategic partners in the plastics sector and it is now ready for commercial application.
  • The conveyor belt has been designed to meet the sorting and recycling requirements of major players in the plastics sector.
  • The system provides valuable information on the materials flowing through the value chain that will enable increase in recycling efficiency. The conveyor belt detector is now poised for commercial roll-out and commercial discussions have commenced. Security Matters is perfectly positioned for the global ‘arms race’ to build sustainable supply chains
BASF Canada pilot to share SMX tech with plastics majors – Stockhead
Special Report: Security Matters’ tech is at the heart of a major plastics recycling and reuse project in Canada. A consortium of major corporations have joined forces to respond to one of the most pressing environmental challenges – plastic waste…
SMX launches #generation3.0 blockchain platform, the cornerstone for the Equilibrium Circular Economy generating Data @the new gold
  • SMX’s launches its fully commercial third generation blockchain digital platform that will service and be a key enabler for the new equilibrium circular economy.
  • This digital platform will have a Circular Value Chain Approach (CVCA) to data management, enabling companies to monetize data from their linear business model and transition to an equilibrium circular economy.
  • By being able to create a digital twin, SMX’s molecular marker is the tangible link to the digital blockchain token. This will provide full transparency and an irrefutable digital record of physical goods that connects different companies from different industries, at various stages of production and different stages of product lifecycles.
BASF introduces innovative pilot blockchain project to improve circular economy and traceability of recycled plastics – CISION
reciChain to prove the value of circularity for plastics and provide ber incentive to recycle. Platform will enable better sorting, traceability and transparency throughout the value chain in an industry collaborative model. Pilot to start in British Columbia (BC) with vision to become a pan-Canadian solution…