Over 100 medicines cheaper under Train Law

OVER 100 medicines for diabetes, hypertension and high cholesterol are cheaper now that the Tax Reform for Acceleration and Inclusion (Train) Law took effect.

The Food and Drug Administration (FDA) submitted to the Department of Finance (DoF) the list of medicines with their generic names and brands that were exempted from the payment of the value-added tax (VAT) beginning January 1 as provided under the Train Law.

This list will be published by the Bureau of Internal Revenue (BIR).

Included in the list are commonly prescribed drugs such as Metformin for diabetes, Amlodipine for hypertension and Simvastatin for high cholesterol.

Finance Secretary Carlos Dominguez 3rd said having healthier Filipinos is a key part of the objective of the government’s Comprehensive Tax Reform Program.

Health Secretary Francisco Duque 3rd, meanwhile, said the Department of Health (DoH) “supports the implementation of VAT exemption on medicines for hypertension, diabetes and high cholesterol, which are non-communicable diseases (NCDs),” as these diseases affect millions of Filipinos.

“Prices of medicines have long been monitored by the DoH. We will make sure that this tax measure under the Train Law will bring relief to patients who rely on affordable medicines especially when they are taken daily to prevent serious and even deadly complications,” he added.

The health secretary said the Train Law was a health measure that would “bring more affordable medicines to patients while raising prices of sugary beverages, alcohol and cigarettes which bring harm to the general populace.”