Keeping up with Inflation: It Pays to be Compliant
Wednesday, December 18, 2019
For Tobacco Retailers, FDA inspections are an expected occurrence. While more than 90% of inspections are passing, if a failure happens, it can require more paperwork and possibly a dollar fine.
To keep up with inflation, the FDA increases the sum of monetary retribution due for failed compliance inspection exercises using the Consumer Price Index, or cost-of-living adjustment multiplier, calculated each October. The cost-of-living adjustment multiplier for October 2018 is 1.0; the increase is applied to all penalties assessed on or after Nov. 5, 2019. Annual adjustments were subsequently published in February 2017 and October 2018.1
Avoid any kind of unnecessary damage by adopting a proactive, responsible compliance program with BARS. We’ll raise compliance-training to an advanced level, while your brand remains free from government violations. To learn more about The BARS Program, visit www.barsprogram.com.
1 Annual Civil Monetary Penalties Inflation Adjustment