More cancer, hypertension, mental health medicines exempted from VAT
The Bureau of Internal Revenue (BIR) has added more cancer, hypertension, and mental illness medicines exempted from value-added tax (VAT).
In a statement, the BIR said cancer medicines Degarelix and Tremelimumab are exempted from VAT.
There are also no more VAT for diabetes meds like Sitagliptin and Linagliptin, as well as those used for mental health treatment such as Clomipramine Hydrochloride, Chlorpromazine, and Midazolam.
The exemption was issued following an endorsement from the Food and Drug Administration (FDA).
Last January, the BIR exempted from VAT some 22 medicines for cancer, diabetes, high cholesterol, hypertension, kidney disease, mental illness, tuberculosis, and hypertension.
In March, it exempted 20 more medicines and another 15 in August.
The FDA previously said these exemptions aim to alleviate the financial burden on patients, ensuring accessibility to essential medications. It’s in line with Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises Act.
The BIR began exempting drugs for diabetes, high cholesterol, and hypertension from value-added tax in 2019.
