Cancer, diabetes drugs among VAT-free meds

MANILA, Philippines — The Bureau of Internal Revenue (BIR) has approved the expansion of medicines covered by the value-added tax (VAT) exemption for serious and chronic illnesses, including cancer and diabetes. In Revenue Memorandum Circular No. 27-2026, BIR Commissioner Charlie Mendoza said the expansion follows the Food and Drug Administration’s (FDA) endorsement of the updated