Bureau of Internal Revenue Commissioner Romeo D. Lumagui, Jr. issued last December 3, 2024, Revenue Memorandum Circular No. 131-2024 exempting from VAT certain medicines for Cancer, Diabetes, 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 exempts from VAT an additional 16 medicines for Cancer, Diabetes, and Mental Illness. Excellent Taxpayer Service includes the timely tax exemption of eligible medicines. The BIR supports the National Government’s thrust of more affordable medicine and healthcare. The BIR will do its share in uplifting the lives of our fellow Filipinos.” Commissioner Lumagui stated.
