The Bureau of Internal Revenue (BIR) has exempted 59 medicines for various diseases from the imposition of value-added tax (VAT).
According to BIR, <a href="https://www.bir.gov.ph/images/bir_files/PR49JUL0323.pdf" target="_blank" rel="noopener">Memorandum Circular 72-2023</a>, signed by its Commissioner Romeo Lumagui Jr., stated that 59 medicines for cancer, hypertension, high cholesterol, diabetes, mental illness, tuberculosis, and kidney disease are excluded from the 12 percent VAT.&nbsp;
The 59 medicines will be added to the list of&nbsp; VAT - Exempt Products under Republic Act No. 10963, or Tax Reform for Acceleration and Inclusion Law (TRAIN law) and RA. 11534, or Corporate Recovery and Tax Incentives for Enterprises (CREATE).
The agency said Excellent Taxpayers Service is one of the pillars of Lumagui&rsquo;s administration.
&ldquo;This includes the issuance of circulars that would make the lives of Filipinos financially easier,&rdquo; BIR added.&nbsp;
It said that the BIR Commissioner aims to transform the agency as both service-oriented and goal-oriented.

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BIR exempts 59 medicines for cancer, hypertension, other diseases from VAT