- The Philippine Bureau of Internal Revenue expanded the VAT-exempt list for health products under the CREATE Act.
- 14 more medicines for serious and chronic diseases, including cancer, diabetes, hypertension, and tuberculosis, were added after FDA endorsement.
- The total number of VAT-exempt medicines is now 2,277.
- The move aims to help reduce Filipinos’ out-of-pocket medical expenses.
Source: vitallaw.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.
Latest Posts in "Philippines"
- BIR Registration and Invoicing Requirements for POS, CAS, and Sales Software
- Philippines BIR Mandates Real-Time Electronic Invoicing for Tax Compliance
- BIR to Remove VAT on Electricity System Loss Charges
- Philippine Lawmaker Seeks VAT Removal on Residential Electricity to Ease Household Costs
- Philippine EOPT Act: Invoices Replace Official Receipts for Sales and Services
