Medicine for high cholesterol, diabeters are now cheaper in PH
Over 100 medicines for diabetes, hypertension and high-cholesterol are now exempted from the payment of the value-added tax (VAT) as provided under the Tax Reform for Acceleration and Inclusion Act (TRAIN).
This was according to the list submitted by the Food and Drug Administration (FDA) to the Department of Finance (DOF).
This list, which also specifies the different dosages covered by this VAT-exempt privilege, is expected to also be published by the Bureau of Internal Revenue (BIR) through a revenue memorandum circular (RMC), and posted on its website.
Commonly prescribed drugs such as Metformin for diabetes, Amlodipine for hypertension and Simvastatin for high cholesterol are on the list.
The FDA informed the DOF that some products no longer sold here may still be on the list because these drugs still have valid Certificates of Product Registration.