ANOTHER 15 essential medicines were added to the list of essential medicines exempted from value-added tax (VAT), according to the Food and Drug Administration (FDA).
In Advisory 2024-1063, the FDA has endorsed 15 more medicines that must be VAT-exempt, making these products more affordable.
“(The) latest updates on the list of VAT-exempt health products pursuant to Republic Act (RA) 11534 will be effective upon the issuance of this advisory,” the FDA said.
Included in the list are medicines for cancer, namely Avelumab 200 milligram/10 milliliter (20 mg/mL concentrate solution for infusion), Acalabrutinib 100 mg capsule, Olaparib 100 mg tablet, Olaparib 150 mg tablet, Trastuzumab 440 mg lyophilized powder for solution for infusion, Trastuzumab 150 mg lyophilized powder for solution for infusion, and Trastuzumab deruxtecan 100 mg powder for concentrate for solution for infusion.
Rosuvastatin (as calcium) 10 mg tablet, a medicine for high cholesterol, is also included in the list.
Medicines for hypertension are also on the list: Olmesartan medoxomil 10 mg tablet, Perindopril (as arginine) 5 mg tablet, Perindopril (as arginine) 10 mg tablet, Indapamide + Amlodipine (as besilate) 1.5 mg/10 mg tablet, and Indapamide + Amlodipine (as besilate) 1.5 mg/5mg tablet.
The FDA said medicines for mental illness, namely Sodium Valproate 200 mg/5 mL oral solution and Valproic Acid 250 mg/5 mL syrup are also VAT-exempt.
Under RA 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act, certain health products including drugs for hypertension, cancer, mental illnesses, tuberculosis, kidney diseases, diabetes and high cholesterol shall be VAT-exempt.
According to the law, the FDA should identify and transmit the list of VAT-exempt health products to other implementing agencies such as the Bureau of Internal Revenue.
