Drugs vs diabetes, hypertension VAT-free starting 2019: DOF

ABS-CBN News

<p>MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.</p><p>This is due to provisions in the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the department said in a post on its Facebook page.</p><p>TRAIN, the first package of the administration's tax reform program, lowered personal income taxes but offset the losses by increasing duties on fuel, sweetened beverages, and vehicles.</p><p>It also limited VAT exemptions to necessities such as raw agriculture food, education, and health. It, however, retained the exemption of purchases of senior citizens and persons with disabilities.</p><p><script src='https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.5' async type='text/javascript'></script></p><div class='fb-post' data-href='https://www.facebook.com/DOFPH/photos/a.280593182101972/1053037848190831/?type=3&theater' data-width='auto'> </div><p> </p><p>The Bureau of Internal Revenue (BIR) will publish on its website a "List of VAT-exempt Diabetes, High-Cholesterol, and Hypertension Drugs" as identified by the Food and Drug Authority, it said in a revenue regulation signed by BIR Commissioner Caesar Dulay and Finance Secretary Carlos Dominguez.</p><p>Complaints for non-compliance and violations of the regulations may be forwarded to ecomplaints@bir.gov.ph, and violators of the VAT exemption would be punished by a fine of not more than P1,000 or imprisonment of not more than 6 months, or both, the regulation says.</p>

<p><script src='https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.5' async type='text/javascript'></script></p><div class='fb-post' data-href='https://www.facebook.com/DOFPH/photos/a.280593182101972/1053037848190831/?type=3&theater' data-width='auto'> </div><p> </p><p>The Bureau of Internal Revenue (BIR) will publish on its website a "List of VAT-exempt Diabetes, High-Cholesterol, and Hypertension Drugs" as identified by the Food and Drug Authority, it said in a revenue regulation signed by BIR Commissioner Caesar Dulay and Finance Secretary Carlos Dominguez.</p><p>Complaints for non-compliance and violations of the regulations may be forwarded to ecomplaints@bir.gov.ph, and violators of the VAT exemption would be punished by a fine of not more than P1,000 or imprisonment of not more than 6 months, or both, the regulation says.</p>

<p>TRAIN, the first package of the administration's tax reform program, lowered personal income taxes but offset the losses by increasing duties on fuel, sweetened beverages, and vehicles.</p><p>It also limited VAT exemptions to necessities such as raw agriculture food, education, and health. It, however, retained the exemption of purchases of senior citizens and persons with disabilities.</p>

<p>MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.</p><p>This is due to provisions in the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the department said in a post on its Facebook page.</p>

<p>MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.</p>

MANILA - Medicines to control diabetes, hypertension, and high-cholesterol will no longer have any Value-Added Tax (VAT) starting January 1, the Department of Finance (DOF) said.

Drugs vs diabetes, hypertension VAT-free starting 2019: DOF | ABS-CBN News

News

News

Drugs vs diabetes, hypertension VAT-free starting 2019: DOF

Drugs vs diabetes, hypertension VAT-free starting 2019: DOF