Govt to provide temporary monitoring relief for e–commerce activities?

The Cabinet of Ministers has granted approval to a proposal to appoint a committee to recommend a temporary monitoring relief for e–commerce translations promptly, considering the rapid growth of online transactions in Sri Lanka.

The proposal presented by the President in his capacity as the Minister of Finance to appoint a committee comprised of officers related Sri Lanka Customs to provide a temporary monitoring relief for e- commerce activities and to introduce a long term regulatory framework on electronic transactions has been approved by the Cabinet, according to Cabinet Spokesman Minister Dr. Nalinda Jayatissa.

The proposal has been presented after observing the rapid increase in the volume of imports to Sri Lanka using e-commerce platforms.

Since the government is expected to facilitate the collection of taxes for e–commerce transactions by creating a regulatory environment, authorities recently amended certain procedures, after identifying shortcomings in the customs clearance method followed regarding the imports through e–commerce platforms.

However, it disrupted the clearance of goods imported to the country and increased the costs borne by customers, eroded the public trust in the system among others.

Small-scale importers and those working closely with e–commerce platforms were severely affected by the recent changes made to customs clearance procedures.

Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the President to appoint a committee comprised of officers in relevant institutions to provide suitable solutions to address the on-going issues.