Bureau of Internal Revenue (BIR) – Author Carlo Carrasco

Ban On POGOs Institutionalized

November 6, 2025October 29, 2025carlocarrasco

The ban on Philippine Offshore Gaming Operators (POGOs) has officially been institutionalized recently as Republic Act Number 12312 has been signed into law by President Ferdinand “Bongbong” Marcos, Jr., according to a news article by the Philippine News Agency (PNA).

Back in July 2024, the ban on POGOs was declared and there were some economic effects that followed (click here and here). POGOs are notorious for being connected with varied forms of crime and human rights abuses. It should be noted that even though the ban was in effect, there were still POGO operations uncovered in Parañaque City (click here, here and here) which itself has been a hot spot of criminal activities involving Chinese nationals for many years now.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

President Ferdinand R. Marcos Jr. has signed Republic Act (RA) 12312, institutionalizing the ban on Philippine offshore gaming operators (POGOs) and declaring their operations and other related activities illegal.

RA 12312, or the Anti-POGO Act of 2025, signed by Marcos on Oct. 23, repeals RA 11590, which previously legalized offshore gaming operations.

“The State recognizes that the maintenance of peace and order, the protection of life, liberty, and property, and the promotion of the general welfare are paramount for the meaningful enjoyment of democracy. The State likewise values the dignity of every human person and guarantees full respect for human rights,” the new law stated.

“To this end, offshore gaming operations in the Philippines are hereby banned and declared unlawful,” it added.

RA 12312 prohibits the establishment, operation, or conduct of offshore gaming in the Philippines; the acceptance of any form of betting for offshore gaming operations; acting as a POGO gaming content or service provider; the creation and operation of a POGO hub; and the introduction, use, or possession of POGO gaming equipment or paraphernalia.

The law orders the permanent cancellation of all licenses previously issued for POGO operations.

All Alien Employment Permits and certificates of exemption and exclusion issued by the Department of Labor and Employment (DOLE), as well as any visa or work permit issued by the Bureau of Immigration (BI) or other visa-issuing agencies to POGO workers, have also been revoked.

“Upon the effectivity of this Act, the DOLE, the BI, and other visa-issuing agencies shall not be allowed to issue any visa or work permit to any person for purposes related to offshore gaming operations,” the law stated.

“The BI shall ensure that any foreign national whose visa is cancelled in accordance with this provision shall be deported directly to the country of his or her birth or citizenship, in coordination with the appropriate embassy or consulate.”

Under RA 12312, all POGOs, as well as POGO gaming content providers, accredited service providers, and local gaming agents whose licenses have been revoked, remain liable for taxes, duties, regulatory fees, and all other charges up to the last day of their operations.

These are due and payable to the government for obligations arising from or in connection with their operations.

The Bureau of Internal Revenue (BIR) is directed to audit persons and entities to determine any outstanding tax liabilities, despite the revocation of licenses and closure of operations.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there are still POGOs or even tiny POGO-like operations still operating secretly around the country right now?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Nineteen More Medicines VAT-Exempt in the Philippines

July 5, 2025July 4, 2025carlocarrasco

Following the recent announcement of several medicines declared exempted from the value-added tax (VAT), nineteen more medicines became VAT-exempt as a result of the recommendation of the Food and Drug Administration (FDA) to the Bureau of Internal Revenue (BIR), according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Nineteen maintenance and lifesaving medicines have been included in the list of those exempted from value added tax (VAT), benefiting more people.

Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr., during the Bagong Pilipinas Ngayon briefing on Thursday, said nine medicines were included under Revenue Memorandum Circular (RMC) 59-2025 issued on June 11, 2025 while the other 10 are covered by RMC 62-2025.

He said the inclusion of the medications for VAT exemption was based on the recommendation of the Food and Drug Administration (FDA).

Of the total, seven of these medicines are for cancer treatment; three each for diabetes, hypertension and mental illness; one each for high cholesterol, kidney disease, and tuberculosis.

“Ang mga ito ay mga maintenance at lifesaving medicines na ngayon ay hindi na papatawan ng VAT. Isang kongkretong hakbang para mas mapagaan ang gastuhin ng mga pasyente (These are maintenance and lifesaving medicines that will now be exempt from VAT. This move is a concrete step to lower patients’ expenses),” Lumagui said.

The BIR chief said both the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the Tax Reform for Acceleration and Inclusion (TRAIN) law provide VAT exemptions on certain health products.

He said BIR coordinates with the FDA and the Department of Trade and Industry (DTI) among others to monitor compliance among pharmaceutical companies and drugstores regarding this price changes.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that a lot more medicines were declared VAT-exempt?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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10 More Medicines Now VAT-Exempt in the Philippines

June 28, 2025June 23, 2025carlocarrasco

Some good news for Filipinos struggling with buy medicine for their respective health-related needs. The Bureau of Internal Revenue (BIR) officially announced that ten more medicines are exempted from the value-added tax (VAT), according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Bureau of Internal Revenue (BIR) said 10 more medicines for cancer, high cholesterol, hypertension, and mental illness are now exempted from value-added tax (VAT).

In a statement on Monday, the BIR said Commissioner Romeo Lumagui Jr. issued Revenue Memorandum Circular No. 62-2025 on June 20 further expanding the list of VAT-exempt medicines.

The BIR said these changes aim to enhance access to critical medications by reducing treatment costs for patients and their families.

Some medicines on the list are Tegafur + Gimeracil + Oteracil Potassium for cancer, Metformin Hydrochloride + Teneligliptin for diabetes, Atorvastatin (as calcium) + Fenobribrate for high cholesterol, Metoprolol tartrate + Ivabradine (as hydrochloride) for hypertension, and Lamotrigine for mental illness.

The VAT exemption, pursuant to Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, and Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, is intended to be responsive and adaptive to current public health needs, guided by the latest evaluations from the Food and Drug Administration.

“The BIR has issued an additional VAT-exemption of 10 medicines for cancer, diabetes, high cholesterol, hypertension, and mental illness,” Lumagui said.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are on medication, does this new development from the BIR look helpful to you?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines manufacturing activity slowed down in May 2025

June 7, 2025June 3, 2025carlocarrasco

In what could be a possible sign of economic slowdown in the Philippines, manufacturing activity for the month of May this year slowed down as demand from foreign markets weakened, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

GROWTH in Philippine manufacturing activity slowed in May due to declining output and weaker demand from foreign markets amid global trade tensions.

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI), which measures the country’s monthly factory performance, settled at 50.1, slipping from 53 in April. This was the lowest index since the 49.4 contraction in March.

A PMI reading above 50 denotes better operating conditions month on month, while a reading below 50 shows the opposite.

“The promising growth observed at the beginning of the second quarter signaled a notable cooling in May,” Maryam Baluch, an economist at S&P Global Market Intelligence, said in a report on Monday. “While new orders continued to increase, they did so at a slower pace, overshadowed by contractions in other areas.”

S&P Global data on the Association of Southeast Asian Nations (ASEAN) showed that only the Philippines expanded in May, while Vietnam (49.8), Myanmar (47.6) and Indonesia (47.4) all declined.

In its report, S&P Global said output declined in May, the second contraction in the past three months.

“Overall, the downturn was marginal, but companies noted softer demand conditions weighed on production,” it said.

Despite continuing to signal a rise in new sales, the rate of expansion in new orders was slight and weaker than in April, it added. This was reflected in the softer rate of increase in input buying activity.

“The situation was further exacerbated by a deteriorating demand from foreign markets, with May witnessing a sharper drop in new export orders,” Ms. Baluch said. “As global trade tensions escalate, the outlook for overseas demand appears increasingly precarious,” US President Donald J. Trump paused his reciprocal tariffs in April for 90 days but continues to apply a 10% baseline tariff rate for most trading partners.

Ms. Baluch said the drop in production requirements was accompanied by a fresh decline in employment and the inventories of both purchases and finished goods.

S&P said employment numbers declined for the first time in four months.

The pace of job shedding was marginal, but the strongest in 11 months, which factories attributed to voluntary resignations and the nonreplacement of those roles.

S&P also cited the limited manpower for a renewed buildup of backlogs across Filipino producers.

“On a brighter note, inflationary pressures remain modest and historically subdued, which could play an important role in supporting demand moving forward,” she said.

However, cost burdens and output charges rose to the highest since January.

“The stability of price pressures may also provide a necessary buffer against the challenges posed by a cooldown in new orders and external market uncertainties,” she added.

S&P Global said manufacturers expect new orders to continue to rise, supported by confidence in the year-ahead outlook for production, but the degree of optimism was the third weakest in the series’ history.

Analysts also said trade tensions and softer demand weighing down the country’s manufacturing activity in May.

The anticipation for higher tariffs likely caused subdued exports, said Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc.

“The persistent trade tensions continue to weigh on global trade, causing exports to drop as higher tariffs may be imposed,” he said in a Viber message.

Philippine exports in the first four months rose 9.5% to $26.87 billion, according to the local statistics agency.

Mr. Erece said domestic demand slowed as the election-spending season ended. Stronger manufacturing activity is expected later this year, as local authorities continue trade talks with the US Trade Representative, he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines’ manufacturing sector will rebound this month?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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New rules streamlining VAT refund processes will make Philippines more attractive to foreign investors

June 6, 2025June 3, 2025carlocarrasco

In the view of the Bureau of Internal Revenue (BIR), the Philippines will become a more attractive destination for foreign investors due to the new rules streamlining the value-added tax (VAT) refund process, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

The Bureau of Internal Revenue (BIR) expects the new rules streamlining the value-added tax (VAT) refund process — a key reform under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act – will make the Philippines a more attractive destination for foreign investors.

In a televised interview, BIR Commissioner Romeo Lumagui Jr. said the new regulations are consistent with President Ferdinand Marcos Jr.’s broader goal of making the country more business-friendly.

“Ang expectation natin, makikita ng mga dayuhang investors na seryoso ang pamahalaan na pagbutihin ang pagnenegosyo at papadaliin ang pagnenegosyo dito sa ating bayan (Our expectation is that foreign investors will see that the government is serious on business and in easing the doing of business in our country),” Lumagui was quoted as saying in a news release on Saturday.

“So, we’re hoping that it will encourage foreign investors to do business here in the Philippines,” he added.

According to the BIR chief, the main objective of CREATE MORE, as well as other BIR efforts, is to ease the doing of business and payment of taxes.

Republic Act No. 12066 or the CREATE MORE Act amended the National Internal Revenue Code to provide greater tax relief and incentives for businesses, particularly exporters.

To implement this, the BIR issued Revenue Memorandum Circular No. 37-2025 on April 10, which reduces the documentary requirements for VAT refund claims.

Under the new guidelines, certified true copies of invoices or receipts may now be submitted in place of original documents.

There was also a reduction of three documentary requirements, particularly the proofs of registration with the Securities and Exchange Commission or Department of Trade and Industry (DTI), whichever is applicable, and the copies of Import Entry and Internal Revenue Declarations/Informal Import Declaration and Entry or Single Administrative Document.

For claims involving amortized input VAT on capital goods, prior certifications from the Bureau of Customs may be reused if already submitted in past filings.

Furthermore, for VAT refund claims starting April 1, exporters are no longer required to submit actual proof of shipment, such as bills of lading.

Instead, the BIR will rely on a certification from the Export Marketing Bureau of the DTI, following a newly signed agreement between the two agencies.

“Ngayon pinadali natin ang proseso sa pakikipag-coordinate sa DTI. So, may kanya-kanyang role ang bawat isa para hindi na rin magdoble-doble ang mga requirements at pag-iimbestiga kung talagang merong mga inexport ang isang entity (We made the process easier through our coordination with the DTI. Each agency now has specific roles to prevent duplication in the submission of requirements and in investigating the goods exported by a business entity,” Lumagui explained.

“Patuloy din ang pag-e-examine natin kung ano ang pwede nating i-streamline na mga proseso para mas mapadali pa ang pagnenegosyo sa ating bayan (We also continue to examine what other processes we can streamline to make doing of business in our country easier),” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the changes made will help the Philippines attract more foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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2025 election candidates reminded by BIR of tax obligations

May 20, 2025May 16, 2025carlocarrasco

With the 2025 National and Local Elections over, the Bureau of Internal Revenue (BIR) reminded all candidates that they are subject to tax regulations and must prepare themselves to meet with the requirements, according to a news article by the Philippine News Agency (PNA). Failure to do so could mean tax evasion charges.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

The Bureau of Internal Revenue (BIR) is reminding all candidates and political parties who ran in the 2025 elections that they are subject to tax regulations and must comply with key requirements as part of their duties as candidates for public office.

In a television interview, BIR Commissioner Romeo Lumagui Jr. emphasized that all candidates and political organizations, including party-list groups must issue BIR-registered invoices for contributions they receive, whether in cash or in kind.

“At pag nagbabayad sila sa kanilang mga suppliers ay kinakailangan nilang mag-withhold ng 5 percent dun sa kanilang suppliers (They also need to withhold 5 percent when they pay to their suppliers),” he said, as quoted in a news release on Thursday.

He added that candidates must keep track of their expenses and submit detailed reports, or Statement of Contribution and Expenditure (SOCE), not just to the Commission on Elections but also to the BIR.

“Para makita natin na lahat kung compliant ang kanilang obligasyon dito (This is for us to determine if everybody is compliant with their obligations),” he said.

Lumagui further reminded that while candidates and parties are allowed to keep excess campaign contributions, they need to pay taxes on these.

“Pagka sobra naman ang natanggap nila na mga contributions sa mga ginastos nila, kinakailangan nilang bayaran ang income tax patungkol dito sa sobrang natanggap nila (If the contributions they received are more than what they spent, they need to pay income tax on the excess funds).”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think all the candidates will be able to comply with both the COMELEC and the BIR? Do you know any local candidate who received funds from your local community during the election campaign season?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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More cancer, diabetes and mental illness medicines exempted by BIR from Value-Added Tax (VAT)

December 26, 2024December 16, 2024carlocarrasco

Some good news for those who need medicine but have limited financial resources. The Bureau of Internal Revenue (BIR) announced that several more medicines for cancer, diabetes and mental illness have officially been declared exempted from the Value-Added Tax (VAT), according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA news report. Some parts in boldface…

The Bureau of Internal Revenue (BIR) has exempted 16 more medicines for cancer, diabetes, and mental illness from value-added tax (VAT).

Under Revenue Memorandum Circular (RMC) 131-2004, the BIR updated the list of VAT-exempt medicines to include those for cancer — Degarelix freeze-dried powder with 80 milligrams (mg) and 120 mg, and Tremelimumab concentrates with 25 mg and 300 mg dosages.

It also exempted more medicines for diabetes including Sitagliptin and Linagliptin film-coated tablets.

Also included in the VAT-free medicines are those for mental illnesses such as Clomipramine Hydrochloride tablets, and Midazolam film-coated tablets.

The BIR said the additional exemptions were made in response to the updated list of VAT-exempt products from the Food and Drug Administration.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you happy to hear that the BIR declared VAT-exempt more medicines of diabetes, mental illness and cancer?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Computer and Communications Industry Association (CCIA) expresses concern over Philippines’ digital tax and regulations

November 6, 2024October 28, 2024carlocarrasco

The Computer and Communications Industry Association (CCIA) – a Washington, DC-based group whose members include several prominent technology companies – expressed concern over the Philippines’ 12% value-added tax (VAT) on foreign digital services plus rules on online transactions, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

US-based tech giants are worried that the 12-percent value-added tax (VAT) to be collected from digital services providers (DSPs), plus more stringent rules on internet transactions under two new Philippine laws, could make it harder for global firms to operate here.

While this law imposing VAT on DSPs does not discriminate between US non-resident DSPs (or other foreign DSPs) and local DSPs, industry is concerned that (its) implementing rules and regulations, which are currently being developed, could impose unworkable requirements on foreign DSPs similar to what has happened for [non-resident] income-tax payers,” the Washington, DC-based Computer and Communications Industry Association (CCIA) told the Office of the United States Trade Representative (USTR) in an Oct. 17 submission for its 2025 National Trade Estimate (NTE) Report on Foreign Trade Barriers, which also covers digital trade.

CCIA is referring to Republic Act (RA) No. 12023 enacted into law by President Ferdinand R. Marcos Jr. last October, whose implementing guidelines are due before this year ends in order to collect VAT next year.

CCIA’s member-companies include Amazon, Apple, Cloudflare, Coupang, eBay, Google, Intel, Meta, Opera, Pinterest, Rakuten, TSMC, Uber and X (formerly Twitter), among other global tech firms.

Arlington, Virginia-based Consumer Technology Association (CTA) also flagged RA 12023 as a barrier to US electronic commerce in its USTR submission, citing that this new Philippine law encompasses not only digital goods and marketplaces but also cloud services as well as online advertising, media and search engines.

Back in 2021, the Washington-based multilateral lender International Monetary Fund (IMF) warned that slapping digital services taxes (DSTs) may “open the door to retaliatory trade measures” from the US, as it did with India’s DST.

CCIA pointed out to the USTR that implementation of the Income Tax Convention of 1976, in which both the Philippines and the US are parties, has been “challenging” due to “complex and burdensome documentation procedures” or so-called request for confirmation (RFC) required by the Bureau of Internal Revenue (BIR) from income taxpayers.

“The BIR has not established standard processing timelines, and businesses are subsequently required to wait indefinitely without any commitment toward a resolution of the filing. These requests are required of all US non-resident service providers operating in the Philippines and, therefore, this policy is not limited to digital services and impacts members of all industries seeking to provide their services and goods to the Philippine market,” CCIA noted.

CCIA added that the BIR revenue memorandum circular (RMC) issued in January of this year “added further confusion to income-tax obligations of non-resident suppliers of cross-border services.”

Referring to RMC No. 5-2024, CCIA said it “appears to depart from established principles of income taxation of cross-border services (using the place where the services are performed to determine if the transaction is income-taxable) and treats the place of receipt of the services as being crucial in determining the taxability of the transaction.”

As such, CCIA called upon the Philippine government and the BIR, in particular, to hold comprehensive industry consultations, “including with US non-resident service providers, to clarify the income-tax position under Philippine law in line with well-recognized and established international practices.”

Like CCIA, the also Washington-based National Foreign Trade Council (NFTC) bewailed in its comment to the USTR that “there is significant ambiguity on how long the BIR will take to review the RFC and there is no guarantee of a positive outcome.”

“Such requests have to be made by each and every income payor (customers) of US non-resident service providers selling to the Philippines,” NFTC lamented.

Also, CCIA expressed concern about the Internet Transactions Act signed by President Marcos Jr. last year.

“Industry is concerned that the [Internet Transactions Law] would introduce obstructive requirements on electronic commerce platforms to have regulatory oversight such as mandatory collection of valid business certificates of merchants and subsequent submission to the government authority,” CCIA explained

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the national government should respond to the concerns of the CCIA? Do you think the digital tax and current laws will turn away technology giants?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines achieved double-digit tax collection growth in first 9 months of 2024

October 23, 2024October 11, 2024carlocarrasco

Recently the Department of Finance (DOF) announced that the Philippines achieved double-digit growth in the January-September stretch of 2024, according to a Manila Bulletin business news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

The Department of Finance (DOF) reported that collections from the government’s two main tax agencies showed strong double-digit growth in the first nine months of the year.

The Bureau of Internal Revenue (BIR) and the Bureau of Customs collectively gathered P2.771 trillion from January to September 2024, a 10 percent increase from P2.518 trillion in the same period last year.

Of this total, the BIR, which is responsible for nearly 70 percent of the government’s annual revenue, collected P2.08 trillion by the end of September—a 12 percent increase compared to P1.858 trillion the previous year.

This nine-month collection accounted for 73 percent of the BIR’s full-year target of P2.842 trillion.

In contrast, the Customs bureau raised P690.8 billion as of September, a modest 4.6 percent increase from P660.39 billion in the previous year. This amount represents 73.5 percent of its annual target of P939.7 billion.

In May, the Development Budget Coordination Committee (DBCC) revised its tax collection projections for the BIR and Customs downward, citing expectations of slower economic growth this year.

According to the DBCC’s 2024 Quarterly Fiscal Program, approved on May 23, the BIR and Customs are now expected to collect P3.788 trillion this year, a reduction of 5.6 percent from the original target of P4.014 trillion.

The BIR’s full-year collection target was adjusted down by 6.7 percent from the previous goal of P3.055 trillion, while the Customs bureau’s target was lowered by 2 percent from the earlier estimate of P959 billion.

Budget Secretary Amenah F. Pangandaman, who chairs the DBCC, explained to the Manila Bulletin that these adjustments were primarily driven by a lower-than-expected economic growth outlook, among other factors.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the BIR will be able to collect P3 trillion by the end of the year? Do you think the recent tax collection reports suggest that the national economy will grow stronger in the next two years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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BIR confirms that more medicines have been exempted from VAT

September 5, 2024August 28, 2024carlocarrasco

In case you missed the news, the Bureau of Internal Revenue (BIR) recently announced that several more medicines have been exempted from the value-added tax (VAT), according to a Philippine News Agency (PNA) news article. The newly exempted medicines cover those related to cancer, high cholesterol, hypertension, and mental illness.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Bureau of Internal Revenue (BIR) said 15 more medicines for cancer, high cholesterol, hypertension, and mental illness are now exempted from value-added tax (VAT).

In a statement on Wednesday, the BIR said Commissioner Romeo Lumagui Jr. issued Revenue Memorandum Circular No. 93-2024 last Aug. 27, exempting from VAT certain medicines for cancer, high cholesterol, hypertension, and mental illness.

“The BIR is now a service-oriented agency, this includes the regular update of medicines that will fall under VAT-Exempt products. The BIR supports the government’s thrust in helping the public have access to more affordable healthcare and medicine,” Lumagui said.

The bureau said the circular was made in response to the updated list of VAT-Exempt Products from the Food and Drug Administration, under Republic Act (RA) 10963 and RA 11534.

Let me end this piece by asking you readers: What is your reaction to this recent development? Did you notice any changes in the prices of medicines you bought recently? Are many members of your local community aware of this new development?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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