Philippines Senate Considers Bill to Amend, Expand VAT Exemptions

The Philippine Senate Feb. 12 accepted for consideration Senate Bill No. 1857, to amend and expand VAT exemptions. The bill includes measures to: 1) amend the exemption for medical, dental, hospital, and veterinary services to expressly include those rendered independently or through clinics, hospitals, or similar facilities, but exclude services that are elective, cosmetic, aesthetic, or to enhance personal appearance; 2) exempt basic over-the-counter drugs and first aid medical supplies, and vitamins and minerals with claims approved by the Food and Drug Administration, but exclude food supplements and wellness products without approved claims; 3) exempt basic commodities for daily subsistence ...