Srilanka, June 25 -- Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, has stated that online-based businesses operating in the country should be properly regulated.



He made these remarks while participating in the 9th Annual General Meeting of the Sri Lanka Retailers' Association (SLRA).



The Minister noted that since some businesses operating in the online market are not properly registered and do not pay taxes, the legally compliant and tax-paying businesses are facing great inconvenience.



He also pointed out that it has been observed that a substantial amount of money, estimated at around USD 780 million, has exited the country through such irregular channels in the past.



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