The Bureau of Internal Revenue (BIR) has come up with a list of 40 additional coronavirus (COVID-19) drugs and emergency vaccines that were exempted from the imposition of 12-percent value-added tax (VAT).
BIR Commissioner Caesar R. Dulay issued Revenue Memorandum Circular 223-2021 with the generic names of these medicines after receiving the updated list from the Department of Health.
The BIR chief told concerned revenue officials that the tax exemption privilege is applicable only to products prescribed and exclusively used for the treatment of COVID-19.
Dulay said the bureau waived the collection of the VAT to reduce the cost of the drugs and vaccines, and ease the financial burden of pandemic patients.
They included SARS-CoV 2, SARS-COV 2rS, Amoxicillin, Amphotericin, Ampicillin, Azithromycin, Aztreonam, Cefazolin, Cefepime, Aspirin, Clopidogrel, Enoxaparin, Heparin, and Cefetaxime.
Also included from VAT are Ceftaxidime, Ceftriaxone, Ceturoxme, Ciprofloxcin, clyrithromycin, Colistin, Doxycycline, Cotrimoxazole, Erythromycin, Levofloxacin, Gentamicin, Linezolid, Metropenem, Metronidazole, Oxacillin, Penicillin, Vancomycin, Baricitinib, Tinzaparin and Warfarin.