For our fellowmen who are buying diabetes and hypertension medicines, DOF (Department of Finance) has good news for 2019.
In their official FB account (@DOFPH), an announcement was posted stating that starting January 1, 2019, all medicines for diabetes, hypertension and high cholesterol will no longer have VAT (value-added tax).
This will definitely affect the medicine prices in a very good way. Those who are buying these maintenance medicines can now expect cheaper price next year.
“This is in accordance with Section 109 (AA) Republic Act no. 10963 or TRAIN Law as implemented by DOF-DOH (Department of Health)- BIR (Bureau of Internal Revenue)-FDA (Food and Drug Administration) Joint Administrative Order no 2-2018 and BIR Revenue regulations no. 25-2018, both dated December 21, 2018″ the post said.