The Bureau of Internal Revenue (BIR) has updated the list of medicines and medical devices exclusively used for the treatment of coronavirus (COVID-19) disease is exempted from the 12 percent value-added tax (VAT).
BIR came out with the list after receiving a circular from the Department of Health which contained the names of new COVID-19 products.
Revenue Commissioner Caesar R. Dulay issued Revenue Memorandum Circular 115-2021 to inform taxmen nationwide about the additional medical items exempted from VAT.
The supplemental pandemic drugs included Covid-19 Vaccine (Vero Cell) and Casirivimab + Imdevimab (Ronapreve).
The medical devices are various respiratory devices and accessories, and COVID-19 diagnostic test kits, including transport, collection, preservation tube with or without swab, syringe and suction machine and personal protective equipment.