BIR exempts more medicines vs. cancer, high cholesterol from VAT

MANILA, August 29 ------ The Bureau of Internal Revenue (BIR) is exempting 15 more medicines against cancer, high cholesterol, hypertension, and mental illnesses from value-added tax (VAT).  

Cancer medicines Avelumab, Acalabrutinib, Olaparib, and Trastuzumab are now VAT-exempt, the BIR said. For those with high cholesterol, VAT will no longer be imposed on Rosuvastatin. Olmesartan medoxomil, Perindopril, and Indapamide + Amlodipine are now VAT-free for the hypertensive. Meanwhile, for those with mental illnesses, Sodium Valporate and Valproic Acid are now exempted from VAT. 

The BIR exempted 21 medicines from VAT in January, and exempted another 20 in March. The agency said 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. 

Source: news.abs-cbn.com