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Advocates Philippines
BIR Exempts 59 Drugs For Cancer And Other Diseases From VAT
Photo credit: BIR
In a move aimed at providing financial relief to Filipinos battling critical diseases, Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. has issued Revenue Memorandum Circular 72-2023, exempting 59 essential medicines from value-added tax (VAT). These medications cover a range of diseases, including Cancer, Hypertension, High Cholesterol, Diabetes, Mental Illness, Tuberculosis, and Kidney Disease. This update expands the existing list of VAT-exempt products under Republic Act No. 10963 (TRAIN Law) and Republic Act No. 11534 (CREATE Act).
Commissioner Lumagui expressed his satisfaction with the new measures, stating, "We have exempted a total of 59 medicines for Cancer, Hypertension, High Cholesterol, Diabetes, Mental Illness, Tuberculosis, and Kidney Disease from VAT. This is a welcome addition to the list of VAT-Exempt Products."
Under Commissioner Lumagui's administration, Excellent Taxpayers Service is a key priority. By issuing such circulars, the BIR aims to alleviate the financial burden on Filipino citizens. The commissioner envisions a BIR that is not only goal-oriented but also service-oriented, seeking to make the lives of Filipinos financially easier.
This latest move by the BIR is expected to significantly benefit patients suffering from these critical diseases, as it will help reduce the cost of their essential medications. The VAT exemptions will enable individuals and families to access necessary treatment without the added burden of additional taxes, ultimately improving their quality of life and promoting better healthcare outcomes.
Commissioner Lumagui expressed his satisfaction with the new measures, stating, "We have exempted a total of 59 medicines for Cancer, Hypertension, High Cholesterol, Diabetes, Mental Illness, Tuberculosis, and Kidney Disease from VAT. This is a welcome addition to the list of VAT-Exempt Products."
Under Commissioner Lumagui's administration, Excellent Taxpayers Service is a key priority. By issuing such circulars, the BIR aims to alleviate the financial burden on Filipino citizens. The commissioner envisions a BIR that is not only goal-oriented but also service-oriented, seeking to make the lives of Filipinos financially easier.
This latest move by the BIR is expected to significantly benefit patients suffering from these critical diseases, as it will help reduce the cost of their essential medications. The VAT exemptions will enable individuals and families to access necessary treatment without the added burden of additional taxes, ultimately improving their quality of life and promoting better healthcare outcomes.
Jul 3, 2023
