8 more medicines get VAT exemption | ABS-CBN
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8 more medicines get VAT exemption
8 more medicines get VAT exemption
MANILA -- The Bureau of Internal Revenue is exempting 8 more medicines from value-added tax (VAT).
MANILA -- The Bureau of Internal Revenue is exempting 8 more medicines from value-added tax (VAT).
In its latest memorandum circular, the BIR exempted several additional drugs for diabetes, high cholesterol, hypertension and mental illnesses from VAT.
In its latest memorandum circular, the BIR exempted several additional drugs for diabetes, high cholesterol, hypertension and mental illnesses from VAT.
For those struggling with diabetes, the BIR exempted gemigliptin, gemigliptine with metformin, sitagliptin with metformin hydrochloride and sitagliptin phosphate with metformin hydrochloride from VAT.
For those struggling with diabetes, the BIR exempted gemigliptin, gemigliptine with metformin, sitagliptin with metformin hydrochloride and sitagliptin phosphate with metformin hydrochloride from VAT.
Meanwhile, for the hypertensive, amlodipine will no longer be slapped with VAT.
Meanwhile, for the hypertensive, amlodipine will no longer be slapped with VAT.
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The BIR also exempted amlodipine with atorvastatine from those with high cholesterol.
The BIR also exempted amlodipine with atorvastatine from those with high cholesterol.
Those struggling with mental health problems, meanwhile, can now get risperidone VAT-free.
Those struggling with mental health problems, meanwhile, can now get risperidone VAT-free.
The tax bureau exempted various medicines for cancer, diabetes, mental illness, high cholesterol, and hypertension last year.
The tax bureau exempted various medicines for cancer, diabetes, mental illness, high cholesterol, and hypertension last year.
In December, BIR chief Romeo Lumagui Jr. said the agency will continue to support exempting medicines from VAT even if it means losses from tax collection.
In December, BIR chief Romeo Lumagui Jr. said the agency will continue to support exempting medicines from VAT even if it means losses from tax collection.
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