phil01

Philippines: List of VAT-free medicines for hypertension, diabetes out

  • Jan 01, 2019

MANILA, Philippines — The government is now all set to implement the value-added tax exemption on sale of medicines for diabetes, high cholesterol and hypertension starting January 1 now that the list of VAT-free drugs is out.

The removal of 12 percent VAT on prescription drugs used to treat cardiovascular diseases and diabetes was mandated by the Tax Reform for Acceleration and Inclusion Act, or TRAIN law.

The DOF said the list will be posted at Food and Drug Authority-licensed drugstores, hospital pharmacies and other authorized sellers of medicines and health products.

The Finance department also reminded the public to ask for receipt to ensure that their purchases were VAT-free.

 
 
Source: https://www.philstar.com/business/2019/01/01/1881535/list-vat-free-medicines-hypertension-diabetes-out#ep3RSudYlz3fucch.99