SEN. Juan Edgardo “Sonny” Angara has highlighted the positive impact of Republic Act 10963, also known as the “Tax Reform for Acceleration and Inclusion (Train) Law,” by emphasizing the addition of 20 more lifesaving drugs to the list of medicines exempted from value-added tax (VAT). This move aims to make these crucial medications more accessible to those in need.
With the inclusion of these additional drugs, there are now over 2,000 VAT-exempt medicines available for the prevention and management of various ailments that are prevalent among the population. These conditions include cancer, hypertension, diabetes, kidney disease, mental illness, high cholesterol, and tuberculosis. By exempting these medications from VAT, the government aims to alleviate the financial burden on patients and ensure that they have access to the treatments they require.
Apart from the VAT exemption, Sen. Angara also emphasized the benefits entitled to senior citizens and persons with disabilities (PWDs) under the law. Seniors are granted discounts on goods and services availed of by seniors, thanks to the provisions of Republic Act 9994, also known as the “Expanded Senior Citizen’s Act.” This act exempts seniors from paying VAT on their purchases, making essential goods and services more affordable for them.
Furthermore, Republic Act 10754 expanded the benefits for PWDs, ensuring that they receive the necessary support and assistance. PWDs are also entitled to discounts under the law, allowing them to access goods and services at a reduced cost. These measures aim to improve the quality of life for senior citizens and PWDs by easing their financial burden and providing them with the support they need.
The Train Law’s inclusion of additional lifesaving drugs and the extension of benefits to senior citizens and PWDs reflect the government’s commitment to prioritize the health and well-being of its citizens. By exempting vital medications from VAT and providing discounts to vulnerable groups, the law aims to ensure that healthcare remains accessible and affordable for all.
It is important to note that these initiatives are not limited to the Philippines alone. Many countries around the world have similar laws and regulations in place to support their citizens’ healthcare needs. By contextualizing these provisions within an international framework, it becomes evident that the Train Law aligns with global efforts to improve healthcare accessibility and affordability.
In conclusion, the Train Law’s inclusion of 20 additional lifesaving drugs in the VAT exemption list is a significant step towards improving access to essential medications. The extension of benefits to senior citizens and PWDs further demonstrates the government’s commitment to supporting vulnerable groups. These measures, in conjunction with similar laws implemented worldwide, contribute to the global goal of ensuring that healthcare remains accessible to all, regardless of financial constraints.
Source: The Manila Times
