THE Bureau of Internal Revenue (BIR) has issued a circular exempting certain medicines for cancer, high cholesterol, hypertension and mental illness from value-added tax (VAT).
In a statement, the BIR said Revenue Memorandum Circular No. 93-2024 issued last August 27 was made in response to the updated list of VAT-exempt products from the Food and Drug Administration, under Republic Act No. 10963 and 11534.
“The BIR has exempted from VAT an additional 15 medicines for cancer, high cholesterol, hypertension and mental illness,” BIR commissioner Romeo Lumagui Jr. said.
“The BIR supports the government’s thrust in helping the public have access to more affordable healthcare and medicine,” he added.
Medications for cancer that are now VAT-exempt include Avelumab 200 milligram (mg)/10 milliliter (ml), Acalabrutinib 100 mg, Olaparib 100 mg and 150 mg, Trastuzumab 150 mg and Trastuzumab Deruxtecan 100 mg.
Rosuvastatin 10 mg used to address high cholesterol is also included in the list.
VAT-exempt medicines for hypertension are Olmesartan Medoxomil 10 mg, Perindopril five mg and 10 mg and Indapamide + Amlodipine 1.5 mg/10 mg and 1.5 mg/5 mg.
Lastly, Sodium Valproate 200 mg/5 ml and Valproic Acid 250 mg/5 ml used to address mental illness are also VAT-exempt.
“ This is an update to the list of VAT-exempt drugs and medicines under Section 109(AA) of the National Internal Revenue Code of 1997, as amended the TRAIN Law and CREATE Act,” the BIR said.
