Fourteen medications for diseases such as cancer, diabetes, and tuberculosis are now exempt from value-added tax (VAT). This means that the price of these drugs will decrease, as they will no longer be subject to a 12% VAT upon purchase.
The Bureau of Internal Revenue (BIR) has approved this VAT-exemption for 14 drugs endorsed by the Department of Health's Food and Drug Administration.
Included in the list of newly VAT-exempted drugs are those for high blood pressure such as Losartan Potassium, Candesartan, Losartan Potassium with Amlodipine, and Candesartan Cilexetil.
The three diabetes medications now also free of VAT are Linagliptin, Sitagliptin, and Metformin Hydrochloride.
Additionally, two drugs for kidney disease, Finerenone 10 mg and Finerenone 20 mg, have also had VAT removed, along with one for cancer, Denosumab, and another for tuberculosis, Bedaquiline.
As for mental health disorders, Desvenlafaxine, Lurasidone Hydrochloride, and Quetiapine are now also VAT-free.
