(Pixabay / FILE PHOTO / MANILA BULLETIN)
Villanueva said that under the CREATE bill, cancer medications will be exempted from value-added tax (VAT).
“Not only will the proposed CREATE law help our economy bounce back from the raging effects of the pandemic, it will also greatly reduce the cost of cancer medication that has been killing hundreds of Filipinos every day who cannot afford the cost of cancer treatment,” he said in a statement on February 7.
The Senate and the House of Representatives last week ratified the final version of the CREATE bill, which seeks to lower corporate income tax (CIT) and amend the country’s tax incentives system to attract more foreign investments and create job opportunities in the country.