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Manila Seeks Medicine, Food Exemptions From Philippine VAT

This article was originally published in PharmAsia News

Executive Summary

The city government of Manila is urging Philippine legislators to exempt medicines and food from the nation's value added tax. The VAT was allowed in 2006 to rise from 10 percent to 12 percent. The city's mayor said the poor are being hit hard by the tax on basic staples such as food and medicine. He said about 85 percent of Manila's population is considered poor and a 12 percent savings on those commodities would have a large impact on their lives. (Click here for more



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