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Revenue Memorandum Circular · RMC

RMC No. 113-2022

To publish the July 1, 2022 FDA letter endorsing updates to the "List of VAT-Exempt Medicines" under Republic Act No. 11534 (CREATE Act), and to clarify the effectivity of the VAT exemption of the covered medicines and medical devices.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
113
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 113-2022 (issued July 28, 2022) publishes the July 1, 2022 letter of FDA OIC-Director General Oscar G. Gutierrez, Jr. endorsing updates to the "List of VAT-Exempt Medicines" under Republic Act No. 11534 (CREATE Act), which delete and correct certain medicines prescribed for COVID-19 treatment. Per Q&A No. 1 of RMC No. 99-2021, the VAT exemption of the covered medicines and medical devices takes effect on the date the FDA publishes the said updates to the list.