The Bureau of Internal Revenue (BIR) has issued an updated list of medicines for cancer, hypertension, and mental illness that are now exempted from value added tax (VAT). Under Revenue Memorandum Circular No. 34-2024 dated March 5, BIR added 20 additional VAT-exempt medicines as part of Republic Act No. 10963 (TRAIN Law) and RA No. 11534 (CREATE Act).
Included in the lists are the following medicines:Recently, the Food and Drug Administration endorsed 20 more medicines for cancer, hypertension, and mental illness to be exempted from VAT to make them affordable to the consuming public
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