Bureau of Internal Revenue Commissioner Romeo D. Lumagui, Jr. issued last August 27, 2028 Revenue Memorandum Circular No. 93-2024 exempting from VAT certain medicines for Cancer, High Cholesterol, Hypertension and Mental Illness. The circular was made in response to the updated list of VAT-Exempt Products from the Food and Drug Administration, under Republic Act No. 10963 and 11534.
“The BIR has exempted from VAT an additional 15 medicines for Cancer, High Cholesterol, Hypertension and Mental Illness. The BIR is now a service-oriented agency, this includes the regular update of medicines that will fall under VAT-Exempt products. The BIR supports the government’s thrust in helping the public have access to more affordable healthcare and medicine,” Commissioner Lumagui stated.
This is an update to the list of VAT-exempt drugs and medicines under Section 109(AA) of the National Internal Revenue Code of 1997, as amended the TRAIN Law and CREATE Act.
