Solon seeks to exempt generic drugs from VAT
Nation
Solon seeks to exempt generic drugs from VAT
by Kristan Carag13 June 2023
TGP Partylist Rep. Bong Teves filed a bill seeking to exclude generic drugs from value-added tax (VAT).
The lawmaker said that the House Committee on Health will begin to conduct hearings on his proposal once the Congress resumes session in July.
"Naka-calendar na ito sa Committee on Health," Teves said on Tuesday, June 13, during DZRH's Magandang Umaga Pilipinas.
Teves expects that his proposed measure will cut down the price of generic medicine by 12 percent.
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