Dhaka, Bangladesh (BBN) - The central bank of Bangladesh has allowed maximum US$500 export under Business-to-Consumer on e-Commerce website without declaration on EXP Form to encourage small value exporters, officials said.
To facilitate small value export under Business-to-Consumer, it has been decided that declaration on EXP Form to customs authority will not be required for small value export up to $500 or equivalent concluded on e-Commerce website against payment received prior to shipment, according to a notification, issued by the Bangladesh Bank (BB) on Monday.
Under the new arrangement, authorized dealer (AD) banks shall report the transactions to Bangladesh Bank reporting system under e-Commerce with reference to Bill of Export extracting from customs electronic system.
The AD banks may allow export under Business-to-Consumer on home delivery basis provided that sufficient amount payable to nominated express/courier service providers on account of relevant costs at destinations along with transport and other charges are realized from consumers abroad.
Earlier such export under Business-to-Consumer on e-Commerce website was permissible through online EXP Form procedure.
Simplified payment options like international cards, online payment gateway service providers, digital wallets and other legitimate payment systems and shipment against cash on delivery/payment on shipment terms are outlined at BB Circular on December 21, 2020.
BBN/SSR/AD