Over 2,200 drugs VAT-exempt – BIR

The government has listed more than 2,200 medicines as exempted from value-added tax (VAT) this year, with cancer, hypertension and diabetes accounting for the highest number of exempt drugs, according to a newly released memorandum.

- By MARCO LUIS BEECH

In the revenue memorandum of the Bureau of Internal Revenue (BIR), cancer patients benefit from the widest coverage, with 675 medicines included in the VAT exemption program.

Hypertension drugs followed with 542 medications exempted from VAT, while 323 diabetes medicines are also included.

The BIR said the updated list now represents the current VAT-exempt medicines for the illnesses mentioned and replaces all previously issued revenue memorandum circulars on the matter until the FDA releases new updates.