DAYS after the signing of the CREATE MORE Act, the government has exempted more cancer, diabetes, and mental health medicines from value-added tax (VAT).
According to the Food and Drug Administration (FDA), they endorsed the VAT exemption for 10 additional medicines.
They said millions of Filipinos suffering from various health conditions will benefit from it.
Among the ailments include for Cancer medicines such as Degarelix and Tremelimumab.
For diabetes, they are Sitagliptin and Linagliptin.
The medicines for mental illness such as Clomipramine Hydrochloride, Chlorpromazine (as hydrochloride), and Midazolam are included.
Likewise the regulatory agency also united that they are being directed by the CREATE MORE law to identify and transmit VAT-exempt health products to other agencies such as the Bureau of Internal Revenue (BIR), Bureau of Customs, and the Department of Trade and Industry.
In January, the BIR exempted 21 medicines for cancer, diabetes and hypertension.
In August, more cancer and high cholesterol medications were excluded from VAT.
It is said that cancer, diabetes, and hypertension are some of the leading causes of death in the Philippines.
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