Once enacted into law by President Rodrigo Duterte, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill will result in a more affordable cancer treatment as the measure will exempt cancer prevention medication from the value-added tax, Senator Joel Villanueva said on Sunday.
The Senate and the House both ratified the CREATE bill last week.
Villanueva, chair of the Senate labor committee, said he was eagerly looking forward to the enactment of the CREATE bill which he said could serve as a milestone not only in the country’s fight against the pandemic, but also in the campaign to prevent cancer and other diseases in the country.
“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,” said Villanueva.
On Wednesday, Villanueva hailed the congressional ratification of the bicameral conference committee report on the CREATE bill which will lower corporate income tax (CIT) and amend the country’s tax incentives system in a move to attract more foreign investments and create job opportunities in the country.
The measure also included so-called “health prescriptions” on important health resources, specifically on cancer medicines.
Along with the other provisions, the proposed CREATE law will benefit the public health system as it will reduce the high cost of cancer treatment, especially for poor Filipinos who otherwise had no choice but to skip medication due to lack of funds.
Villanueva noted that seven out of 10 Filipino cancer patients ended their medical treatment for cancer due to financial problems.
According to figures from the Department of Health, cancer is a “silent disaster” and is one of epidemic non-communicable diseases that has been the cause of deaths of about 300,000 Filipinos every year, or roughly 800 a day and 33 every hour.
In another study, a total of 189 of every 100,000 Filipinos have cancer, while four Filipinos die of the disease every hour or 96 cancer patients every day.
“The data suggest one thing: it is of epidemic proportions. Hindi lang po ito mangilan-ngilan. These deaths run hundreds of thousands. If we can help reduce the costs of cancer treatment, we do not only help poor Filipinos financially, we also give them hope,” Villanueva said.
Source: Latest Politics News Today (Politics.com.ph)
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