Sri Lanka introduces Business to Consumer direct transaction under E-commerce

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Sri Lanka introduces Business to Consumer direct
transaction under E-commerce
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Oct 22, 2018 (LBO) Sri Lankas Finance Ministry
as envisaged in the Budget-2018 has established a
regulatory framework enabling the 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.
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Accordingly, hereafter companies or exporters in
Sri Lanka can send goods in any number worth
maximum of 3000 US dollars 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.
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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 Company registration
business enterprise and B2C operations by any
individual registered exporter.
Gazette notification issued earlier about the
regulations for governing B2C transactions on the
e-commerce platform
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