- Bureau of Internal Revenue in the Philippines expanded list of medicines exempted from VAT
- Medications for cancer, hypertension, mental illness now included in VAT exemption
- Circular included 15 drugs for various conditions
- Aim is to make medicines more affordable for consumers
- Top causes of death in the country are heart disease, cancer, and cerebrovascular disease
Source: zawya.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"
- DEPDev Chief Opposes VAT Cut, Citing Risks to Revenue and Fiscal Targets
- Scrapping VAT Risks Inflation, Revenue Shortfall, Warns Economist; Urges Caution on Tax Reform
- BIR E-Invoicing Philippines: 2026 Compliance Guide for Electronic Invoice System (EIS)
- Recto Warns VAT Cut Could Trigger Credit Downgrade, MUP Bill Costs ₱141B
- Recto Warns VAT Cut Could Increase Debt, Risk Credit Downgrade
