FDA Recommends 17 More Medicines for VAT Exemption

• FDA recommends 17 more medicines for VAT exemption
• FDA aims to make medicines affordable and decrease expenses for medical attention
• The CREATE law exempts drugs for hypertension, cancer, mental illnesses, tuberculosis, kidney diseases, diabetes and high cholesterol from VAT
• Recommended medicines for VAT exemption include Gemigliptin, Sitagliptin, Sitagliptin Phosphate, Amlodipine, and Risperidone
• FDA will transmit the list of VAT-exempt health products to other agencies, including the Bureau of Internal Revenue, Bureau of Customs and Department of Trade and Industry

Source: philstar.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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