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BIR exempts 21 medicines for cancer, diabetes, hypertension from VAT

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/antibiotics-unsplash.jpg" style="width:950px" class="fr-fic fr-dib" alt="Photo by Volodymyr Hryshchenko on Unsplash"/><span class="fr-inner"><em>Photo by Volodymyr Hryshchenko on Unsplash</em></span></span></span></div><p>MANILA<strong> (UPDATE)</strong> -- The Bureau of Internal Revenue (BIR) has exempted 21 new medicines from value-added tax (VAT).</p><p>The medicines exempted are for patients with cancer, diabetes, high cholesterol, hypertension, kidney disease, mental illnesses, and tuberculosis.</p><p>For cancer patients, panitumumab and fulvestrant are now VAT-exempt.</p><p>Metformin and sitagliptin are also now VAT-exempt for the diabetic.</p><p>Those suffering from high blood cholesterol will now have their medicines atorvastatin calcium and atorvastatin + fenofibrate free of VAT.</p><p>For hypertensive patients, clonidine hydrochloride and lisinopril are now VAT-exempt.</p><p>Mannitol and tolvaptan are now VAT-exempt for those with kidney diseases, and so is desvenlafaxine for those with mental illnesses.</p><p>For those with tuberculoisis, bedaquiline and isoniazid + pyridoxine hydrochloride are now free of VAT.</p><ul><li><a data-cke-saved-href="https://news.abs-cbn.com/business/01/24/24/no-new-taxes-this-year-finance-chief-recto" href="https://news.abs-cbn.com/business/01/24/24/no-new-taxes-this-year-finance-chief-recto">No new taxes this year: Finance chief Recto</a></li></ul><p>In a statement on Wednesday, BIR Commissioner Romeo Lumagui Jr., said the circular after the list was endorsed by the Food and Drug Administration (FDA) to update the list of VAT-Exempt Products under Republic Act 10963 or Tax Reform for Acceleration and Inclusion Law and Republic Act 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act.<br/> <br/>&quot;Updating the list of VAT-exempt medicines is part of Taxpayer Service. We will update taxpayers as soon as possible of exemptions given to them by existing laws,” Lumagui said in a statement.<br/> <br/>According to Lumagui, excellent taxpayer service will be the focus of BIR this 2024. This includes the issuance of circulars that would ease the financial burden of Filipinos that are suffering from the said diseases.<br/> <br/>&quot;Ito ang handog ng BIR sa Bagong Pilipinas, serbisyong mabilis at maaasahan. Ito pong 21 na gamot na tinanggalan ng VAT ay simula pa lamang ng mga serbisyong aming ibibigay ngayong 2024.&quot; according to Lumagui.<br/> <br/>Health Secretary Ted Herbosa, meanwhile, said he welcomed the development that would benefit those who are really sick.<br/> <br/>&quot;I welcome that kasi nga, these are drugs that are needed by people who are really sick. So very important ‘yung VAT exemption because that lowers the price of medicines,&quot; Herbosa told reporters.<br/> <br/>Dr. Rontgene Solante, President of the Philippine College of Physicians (PCP), said this could automatically result to lowering the prices of some maintenance medicines and would be a big help to the elderly and people with comorbidity.<br/> <br/>“Malaking bagay ‘to na makatulong sa mga pasyente natin kasi ‘pag tangglin mo yung Value Added Tax, automatic yan bababa ang presyo nitong mga napaka-importanteng maintenance medication,” Solante said.</p><div><strong>- with a report from Johnson Manabat, ABS-CBN News</strong></div><div><br/></div><div></div><div><br/></div><div></div><div><br/><br/></div>

<p>The Bureau of Internal Revenue (BIR) has exempted 21 new medicines from value-added tax (VAT).</p>

The Bureau of Internal Revenue (BIR) has exempted 21 new medicines from value-added tax (VAT).