Registration is a must for e-commerce firms: Committee

E-commerce companies will have to get registered online to run their businesses in the country.

Additional secretary of the commerce ministry AHM Safiquzzaman told newsmen on Tuesday that the commerce ministry is now working on how to register all the e-commerce companies through an online system so that the service becomes hassle free, reports UNB.

On 12 October, the government formed a committee with Safiquzzaman as its chairman to monitor e-commerce platforms and recommend what needs to be done to protect the rights of consumers.

The committee sat in its first meeting on Monday and its second meeting is scheduled to be held next week, sources said.

The committee will have to submit a report before the cabinet division within one month as per the deadline set in the working paper.

According to the sources, the committee will recommend the method of transparent financial transactions of e-commerce companies and how to bring them under VAT and Income Tax network.

The instructions that will come from the cabinet department will be implemented later. "The committee has jurisdiction over the method of recovering money and assets. The cabinet division will decide whether an administrator will be appointed or not," Safiquzzaman said.