BIR says backs more VAT-exempt medicines despite tax collection losses | ABS-CBN
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BIR says backs more VAT-exempt medicines despite tax collection losses
BIR says backs more VAT-exempt medicines despite tax collection losses
The Bureau of Internal Revenue's central office in Quezon City. Mark Demayo, ABS-CBN News/File
The Bureau of Internal Revenue's central office in Quezon City. Mark Demayo, ABS-CBN News/FileThe Bureau of Internal Revenue vowed that it will continue to support the expanding list of medicines exempted from Value-Added Tax (VAT).
The Bureau of Internal Revenue vowed that it will continue to support the expanding list of medicines exempted from Value-Added Tax (VAT).
The agency recently exempted more medicines for cancer, diabetes, and mental illnesses from VAT. BIR Commissioner Romeo Lumagui Jr. said this is to make medicines affordable.
The agency recently exempted more medicines for cancer, diabetes, and mental illnesses from VAT. BIR Commissioner Romeo Lumagui Jr. said this is to make medicines affordable.
"Ito rin ang malaking bagay sa ating mga kababayan parte na rin 'yan ng programa ng ating mahal na pangulo na gusto rin niyang makatulong sa ating mga kababayan at makatulong nag kanilang kalagayan," he said.
"Ito rin ang malaking bagay sa ating mga kababayan parte na rin 'yan ng programa ng ating mahal na pangulo na gusto rin niyang makatulong sa ating mga kababayan at makatulong nag kanilang kalagayan," he said.
The BIR chief added that they will continue to support exempting medicines from VAT even if it means losses from tax collection.
The BIR chief added that they will continue to support exempting medicines from VAT even if it means losses from tax collection.
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"Kaya naman patuloy rin ang pagsuporta ng BIR kahit na ang resulta niyan ay bawas koleksyon sa amin ay pinapatupad natin, inilalabas at dinadagdagan natin ang mga VAT-exempt na mga gamot," Lumagui added
"Kaya naman patuloy rin ang pagsuporta ng BIR kahit na ang resulta niyan ay bawas koleksyon sa amin ay pinapatupad natin, inilalabas at dinadagdagan natin ang mga VAT-exempt na mga gamot," Lumagui added
"Parami nang parami yung saklaw ng VAT-exempt ng gamopt at mas mura na by, kasi wala nang VAT, 12 percent," he noted.
"Parami nang parami yung saklaw ng VAT-exempt ng gamopt at mas mura na by, kasi wala nang VAT, 12 percent," he noted.
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