The Bureau of Internal Revenue releases an updated list of certain VAT-exempt medicines for cancer, hypertension, and mental illness. The BIR issued a new memo exempting from value-added tax (VAT) certain medicines for cancer, hypertension, and mental illness.
This is an update to the list of VAT-exempt drugs and medicines of the National Internal Revenue Code of 1997, as amended by the TRAIN Law and CREATE Act.
Source: Healthcare Press (healthcarepress.net)
Bureau Of Internal Revenue VAT-Exempt Medicines Cancer Hypertension Mental Illness Memo Value-Added Tax National Internal Revenue Code TRAIN Law CREATE Act
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