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The Philippine BIR expanded VAT-exempt medicines list, adding those for cancer, diabetes, etc., following FDA endorsement.
The Philippine Bureau of Internal Revenue (BIR) has expanded the list of medicines exempt from value-added tax (VAT) following endorsement by the Food and Drug Administration.
The new VAT-exempt medications are for conditions including cancer, diabetes, high cholesterol, hypertension, kidney disease, mental illness, and tuberculosis.
The additional drugs join the 59 medications that were already exempt from the 12% tax under existing laws.
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El BIR de Filipinas amplió la lista de medicamentos exentos del IVA, añadiendo aquellos para el cáncer, la diabetes, etc., tras el respaldo de la FDA.