Bangladesh lifts import duty on electric buses for educational institutes

The government also considers reducing customs duties on the import of passenger buses

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 clearly written on the buses so they are easily 'visible'. The NBR will settle the applications for the buses within 10 working days of their submission,” the statement said.

The NBR believes the decision will allow educational institutions to provide modern and environment-friendly buses for student transportation at affordable costs.

The government is also considering reducing customs duties on the import of passenger buses, the statement read.

After a cabinet meeting in early April, an official said the government has decided to curtail import duties on electric vehicles and offered a 100 percent waiver for schools considering the fuel crisis and environmental issues.