Govt introduces B2C direct transaction under E-commerce
The Ministry of Finance and Mass Media as envisaged in the Budget-2018 by the Minister Mangala Samaraweera has established a regulatory framework enabling Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers.
Sri Lankan Customers do enjoy this B2C e-commerce facility via E-bay and other trading platforms but not vice versa. Accordingly, hereafter companies or exporters in Sri Lanka can send goods in any number worth maximum of US$ 3,000 each without submitting CUSDEC application to the Sri Lanka Customs. However, at the end of the particular month the exporter has to submit one CUSDEC application to Sri Lanka Customs covering all transactions.
The Regulation issued by the Ministry of Finance introducing the E-Commerce Business to Customer will govern any approved online trading platform done by B2C operations by a Board of Investment approved Hub enterprise, B2C operations by a Board of Investment approved enterprises, B2C operations by any other registered business enterprise and B2C operations by any individual registered exporter.Source at: Daily News