The Bureau of Internal Revenue (BIR) said yesterday it issued a circular exempting 15 more medicines against cancer, high cholesterol, hypertension and mental illnesses from value-added tax (VAT).
BIR commissioner Romeo Lumagui Jr. said he issued Revenue Memorandum Circular No. 93-2024 to update the list of VAT-exempt products under Republic Act No. 10963 and 11534.
“The BIR is now a service-oriented agency. This includes the regular update of medicines that will fall under VAT-exempt products. The BIR supports the government’s thrust in helping the public have access to more affordable healthcare and medicine,” Lumagui said.
The BIR earlier exempted 21 medicines from VAT in January 2024 and exempted another 20 in March 2024.
The latest list of VAT-exempt drugs includes cancer medicines avelumab, acalabrutinib, llaparib and trastuzumab; anti-cholesterol rosuvastatin; and hypertension medicines olmesartan medoxomil, perindopril and indapamide + amlodipine.
It also exempts sodium valporate and valproic acid for mental illness.
