The Bureau of Internal Revenue (BIR) has announced that 15 more medicines, including those used to treat cancer, high cholesterol, hypertension, and mental illnesses, will be exempt from value-added tax (VAT).
Among the newly exempted cancer medications are Avelumab, Acalabrutinib, Olaparib, and Trastuzumab. For patients managing high cholesterol, Rosuvastatin will now be VAT-free. Hypertensive patients will benefit from VAT exemptions on Olmesartan medoxomil, Perindopril, and Indapamide + Amlodipine. Additionally, Sodium Valproate and Valproic Acid, used to treat mental health conditions, are now exempt from VAT.
According to an ABS-CBN News report, this is the latest update to the list of VAT-exempt medicines, following previous exemptions in January and March. The BIR emphasized that this move is in accordance with Section 109(AA) of the National Internal Revenue Code of 1997, as amended by the TRAIN Law and CREATE Act.
