Drugs vs diabetes, hypertension VAT-free starting 2019: DOF

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<p>MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.</p><p>This is due to provisions in the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the department said in a post on its Facebook page.</p><p>TRAIN, the first package of the administration&#x27;s tax reform program, lowered personal income taxes but offset the losses by increasing duties on fuel, sweetened beverages, and vehicles.</p><p>It also limited VAT exemptions to necessities such as raw agriculture food, education, and health. It, however, retained the exemption of purchases of senior citizens and persons with disabilities.</p><div><script src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&amp;version=v2.5" async="" type="text/javascript"></script></div><div class="fb-post" data-href="https://www.facebook.com/DOFPH/photos/a.280593182101972/1053037848190831/?type=3&amp;theater" data-width="auto"> </div><div> </div><p>The Bureau of Internal Revenue (BIR) will publish on its website a &quot;List of VAT-exempt Diabetes, High-Cholesterol, and Hypertension Drugs&quot; as identified by the Food and Drug Authority, it said in a revenue regulation signed by BIR Commissioner Caesar Dulay and Finance Secretary Carlos Dominguez.</p><p>Complaints for non-compliance and violations of the regulations may be forwarded to ecomplaints@bir.gov.ph, and violators of the VAT exemption would be punished by a fine of not more than P1,000 or imprisonment of not more than 6 months, or both, the regulation says.</p>

<p>MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.</p>

MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.

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Drugs vs diabetes, hypertension VAT-free starting 2019: DOF

Drugs vs diabetes, hypertension VAT-free starting 2019: DOF

ABS-CBN News

Published Dec 28, 2018 04:59 PM PHT

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Department of Finance

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