- The Philippine government has exempted 2,263 medicines from VAT, with cancer drugs (702), hypertension (535), and diabetes (327) medicines making up the largest shares.
- The updated VAT-exempt list, endorsed by the FDA and BIR, also includes drugs for mental illness (300), high cholesterol (171), kidney disease (152), and tuberculosis (76).
- The exemption aims to make essential medicines more affordable, especially for major illnesses that are leading causes of death in the country.
- Pharmaceutical companies have assured the Department of Health that there will be no medicine price increases until June, and current supply is stable.
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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