BIR: 14 More Drugs Exempt From VAT
4 Articles
4 Articles
Over 2.2K Medicines Now VAT-Exempt, Says Bureau Of Internal Revenue
More than 2,200 medicines are now exempted from value-added tax (VAT), the Bureau of Internal Revenue (BIR) said Wednesday. The BIR issued Revenue Memorandum Circular (RMC) No. 87-2026, publishing the updated list of 2,277 Value-Added Tax (VAT)-exempt medicines endorsed by the Food and Drug Administration (FDA) pursuant to Republic Act 10963 (TRAIN law) and Republic Act 11534 (CREATE Act). BIR said the issuance supports President Ferdinand R. Ma…
The government submitted a bill on the VAT exemption of prescription drugs to the Parliament on Tuesday. The post VAT-free prescription drugs: the government has taken another step was first published on Most Hír.
The amendment also applies to medical radioactive isotopes and medical oxygen. The post VAT exemption for prescription drugs before Parliament first appeared on 24.hu.
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