MPs propose reducing VAT on prescription drugs to 7% from 20%

16:28, 29.09.2015 1 min read

MPs from different parliamentary factions have proposed reducing VAT on prescription drugs to 7% from 20%.

Corresponding bill No. 3180 was registered by Kostiantyn Yarynych (Petro Poroshenko Bloc), Iryna Sysoyenko (Samopomich), and Serhiy Berezenko (Petro Poroshenko Bloc).

The bill includes amendments to the Tax Code, which foresee a 7% tax on transactions on supplies of drugs which are produced by pharmacy institutions under the prescriptions of doctors or the orders of medical institutions according to the list approved by the Cabinet of Ministers.

The Verkhovna Rada health committee told Interfax-Ukraine that prescription medicines are currently taxed at 20%, while other medicines are taxed at a rate of 7%.