THE Bureau of Internal Revenue (BIR) has released an updated list of medicines exempted from value-added tax (VAT), including those for diabetes, hypertension, high cholesterol, and mental illness.
Under Revenue Memorandum Circular (RMC) 025-2025, BIR Commissioner Romeo Lumagui Jr. updated the list of VAT-exempt medicines to include those for diabetes such as Gemigliptin 50 milligram (mg) or 500 mg film-coated tablets, and Sitagliptin 100 mg or 1 gram extended release film coated tablets.
Also exempted are medicines for hypertension Amlodipine 20 mg tablets, and for high cholesterol Amlodipine + Atorvastatin tablets, as well as Risperidone 4 mg orodispersible tablet for those with mental illness.
The BIR said the additional exemptions were made in response to the updated list of VAT-exempt products as endorsed by the Food and Drug Administration (FDA).
To recall, the BIR in December last year exempted 16 more medicines for cancer, diabetes, and mental illness from VAT. (GMA Integrated News)
