THUMBNAIL-MEDICAL

Rowegie Abanto

ABS-CBN News

<div><br/></div><p>MANILA — The government has exempted more cancer, diabetes, and mental health medicines from value-added tax (VAT), days after the signing of the CREATE MORE Act.</p><p>In an advisory, the Food and Drug Administration (FDA) endorsed the VAT exemption for 10 additional medicines, which would benefit millions of Filipinos suffering from these health conditions.</p><p>The following medications are now exempt from VAT.<br/><br/></p><div><strong>CANCER</strong></div><p>Degarelix </p><p>Tremelimumab </p><div><br/></div><div><strong>DIABETES</strong></div><p>Sitagliptin </p><p>Linagliptin </p><div><br/></div><div><strong>MENTAL ILLNESS</strong></div><p>Clomipramine Hydrochloride</p><p>Chlorpromazine (as hydrochloride)</p><p>Midazolam</p><div><br/></div><p>The regulatory agency said it was directed by the CREATE MORE law — which seeks to clarify the rules on VAT, among others — to identify and transmit VAT-exempt health products to other agencies such as the Bureau of Internal Revenue (BIR), Bureau of Customs, and the Department of Trade and Industry.</p><div><a href="https://www.abs-cbn.com/business/2024/11/11/economic-team-hails-signing-of-create-more-act-1259">Marcos signing of CREATE MORE Act expected to boost investments</a></div><p>The VAT exemption of the medicines is effective upon the issuance of the FDA advisory, which was dated November 22 and publicized Tuesday, November 26.</p><p>The BIR in January this year <a href="https://www.abs-cbn.com/business/2024/1/31/bir-exempts-21-medicines-for-cancer-diabetes-hypertension-from-vat-911">exempted 21 medicines</a> for cancer, diabetes, and hypertension from VAT. By August, <a href="https://www.abs-cbn.com/business/2024/8/28/bir-exempts-more-medicines-vs-cancer-high-cholesterol-from-vat-921">more cancer and high cholesterol</a> medications were excluded from VAT.</p><p>Cancer, diabetes, and hypertension are some of the leading causes of death in the Philippines, where the cost of medicines is often prohibitive for the poor.</p><div><a href="https://www.abs-cbn.com/lifestyle/health-wellness/2024/10/9/up-manila-seeks-partners-to-commercialize-ampalaya-pill-for-diabetes-827">RELATED: UP Manila seeks partners to commercialize ampalaya pill for diabetes</a></div><div><br/></div>

<p>The government has exempted more cancer, diabetes, and mental health medicines from value-added tax, days after the signing of the CREATE MORE Act.</p>

The government has exempted more cancer, diabetes, and mental health medicines from value-added tax, days after the signing of the CREATE MORE Act.

Gov't exempts more cancer, diabetes, mental health medicines from VAT | ABS-CBN

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Gov't exempts more cancer, diabetes, mental health medicines from VAT

Gov't exempts more cancer, diabetes, mental health medicines from VAT

Rowegie Abanto,

ABS-CBN News

Published Nov 26, 2024 10:52 AM PHT

Read More:

cancer

diabetes

mental illness medications

FDA

BIR

CREATE law

medicine

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