The Bureau of Internal Revenue has issued an updated list of medicines for cancer, hypertension, and mental illness that are now exempted from value added tax .
Under Revenue Memorandum Circular No. 34-2024 dated March 5, BIR added 20 additional VAT-exempt medicines as part of Republic Act No. 10963 and RA No. 11534 . 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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