Saturday, June 1, 2019

TAX INCENTIVES FOR HERBAL MEDICINES, ETC


Medicines are highly expensive and can deplete our savings. I believe that the BIR and the DOF should find a way of removing taxes from medical companies who manufacture medicines using our natural resources and coming up with herbal mdicines. We should then cultivate our own resources and give our medical laboratories the boost they need by giving them huge tax incentives, if not tax exemptions directly.

Senior citizens woll benefit greatly from that. As it is, whay we have reserved for a holiday outside of MMLA is used up due to the purchase of much-needed medicines.

Also, bookstores and other educational institutions should be included since their aim is to expand the mind of the Filipino people. Include also the computer shops which provide printing, internet and xeroxing services. Exempt those computer shops that are only gaming. Tax incentives only for shops without games.

How fast do you think can the Department of Finance and th BIR act on these? Time is of the essence especially where medicines are the concern?

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