MORE AFFORDABLE Another batch of drugs has been recommended for inclusion by the Food and Drug Administration in the Bureau of Internal Revenue鈥檚 list of VAT-exempt health products. A searchable database of all 鈥淰AT-Exempt Health Products鈥� can be accessed at verification.fda.gov.ph. 鈥擨nquirer file photo
MANILA, Philippines 鈥� The Food and Drug Administration (FDA) has added 12 more medicines to the list of health products exempted from the value-added tax (VAT), making these more affordable to Filipinos.
Under FDA Advisory No. 2024-1118 signed by its Director General Samuel Zacate on Aug. 19, the regulatory body asked the Bureau of Internal Revenue (BIR) to make the following VAT-exempt: three medicines each for diabetes and mental illness, two each for hypertension and kidney diseases and one each for cancer and tuberculosis (TB).
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This was the fifth advisory issued so far this year by the FDA on the list of VAT-exempt health products. Under the law, it must provide an updated list 30 days before the start of each quarter.
Covered by the latest advisory are Denosumab 70 mg/mL, which is used for the treatment of osteoporosis, bone loss, bone cancer, and giant cell tumor of bone; Bedaquiline (fumarate) 100 mg, an antibiotic used for active tuberculosis; and Finerenone 10 mg/20 mg, which is used to lower the risk of serious kidney and heart problems for chronic kidney disease patients.
Newest additions
Also on the list are diabetes medicines Linagliptin 5 mg; Sitagliptin (phosphate monohydrate) + Metformin hydrochloride 50 mg/500 mg and Metformin Hydrochloride + Sitagliptin (phosphate monohydrate) 1 g/50 mg; and antihypertensive drugs Losartan Potassium + Amlodipine (Besilate) 100 mg/10 mg; and Candesartan cilexetil 32 mg.
Also endorsed for VAT exemption are antidepressants Desvenlafaxine (succinate monohydrate) 100 mg; Desvenlafaxine (succinate monohydrate) 20 mg and Quetiapine (fumarate) 200 mg, which are antipsychotic drugs used to treat schizophrenia.
These medicines were in addition to the more than 2,000 drugs for diabetes, hypertension, cancer, high cholesterol, mental illnesses, tuberculosis, and kidney diseases, which were made VAT-exempt under Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion or Train Act, as well as RA 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Under BIR rules, the effectivity of the latest VAT exemption started on Aug. 19, when the FDA made public the updated list.
A searchable database of all 鈥淰AT-Exempt Health Products鈥� can be accessed at verification.fda.gov.ph.