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Manila Bulletin devider Philippines devider National devider BIR releases generic names of COVID-19 drugs exempt from VAT

BIR releases generic names of COVID-19 drugs exempt from VAT

Published Oct 4, 2021 08:57 am

The Bureau of Internal Revenue (BIR) released the generic names of coronavirus (COVID-19) medicines that are exempted from paying the 12-percent value-added tax (VAT).

The list was based on a separate resolutions issued by the Department of Health (DOH) and the Food and Drugs Adminstration (FDA).

BIR Commissioner Caesar R. Dulay stated in Revenue Memorandum Circular No.103-2021 that the tax exemption privilege will be applied only for drugs directly used for the treatment of COVID-19.

They included Tocilizumab, Bivalidurin, Dalteparin, Tinzaparin Sodium, Amoxicillin, Favipiravir, Leconlimab, Ivermectin and Rendesivir.

The full list can be viewed at https://verification.fda.gov.ph.

The DOH resolution contained the updated list of drugs also exempted from VAT if used for the treatment of cancer, diabetes, tuberculosis, hypertension, kidney and mental illnesses.

The BIR waived the tax upon instruction from higher authorities to lower the retail prices of these costly drugs.

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