Dhaka, April 30 -- The government has exempted import duties and taxes on electric buses for transporting students of schools, colleges, universities or similar educational institutions in Bangladesh amid the volatile energy market and supplies driven by the Iran war.

In a statement on Thursday, the National Board of Revenue (NBR) said it withdrew import duty, regulatory duty, supplementary duty, value added tax (VAT), advance tax and advance income tax on these buses.

Until now, importers have paid 61.8 percent duty and taxes for the electric vehicles.

The import is based on a condition. According to the NBR, the vehicles must be yellow to receive tax exemption.

"The words 'school, college, student bus or transportation' will be clea...