In light of Republic Act No. 11467, the Consolidated VAT Regulations of 2005 (RR No. 16-2005, as amended by RR No. 13-2018) have been amended to include the VAT-exempt sale or importation of prescription drugs and medicines for:
- Diabetes, high cholesterol and hypertension (beginning 1 January 2020); and
- Cancer, mental illness, tuberculosis and kidney disease (beginning 1 January 2023).
Source PwC
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