Cheaper medicines
ADMITTEDLY, many Filipinos still find it hard to meet their medical needs.
Thus, we cannot overemphasize the importance of supporting government efforts to go after those who overprice medicines.
And there’s that urgent need for concerned state authorities to bring down the costs of medicine and medical services.
On November 22, the Food and Drug Administration (FDA) added more medicines to the list of health products exempted from value-added tax (VAT).
The FDA endorsed to the Bureau of Internal Revenue (BIR) an exemption from the 12-percent VAT for eight medicines.
These medicines are for diabetes (eight), cancer (four) and mental illness (three).
Records show that this is the sixth time this year that the FDA updated its list of VAT-exempted medicines and health products.
Under the law, the agency is mandated to provide an updated list 30 days before the beginning of every quarter,
The government of President Marcos should be commended for giving top priority to bringing down the cost of medicine in the country.
