THE Bureau of Internal Revenue (BIR) added 15 more drugs for cancer, high cholesterol, hypertension, and mental illnesses that are now exempt from value-added tax (VAT).
According to the BIR, cancer medicines such as Avelumab, Acalabrutinib, Olaparib, and Trastuzumab are now VAT-exempt.
For those with high cholesterol, Rosuvastatin and Olmesartan medoxomil, Perindopril, and Indapamide + Amlodipine for hypertensive patients are also now VAT-free.
Meanwhile, medications for mental illnesses like Sodium Valproate and Valproic Acid are also VAT exempt.
In January, the BIR included 21 drugs in the VAT exemption list, and an additional 20 were added in March.
According to the agency, 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, which was amended by the TRAIN Law and CREATE Act.
