Revenue Memorandum Circular · RMC

RMC No. 119-2022

To publish the July 20, 2022 FDA letter endorsing updates to the “List of VAT-Exempt Medicines” under the CREATE Act — adding 150 mg + 100 mg Nirmatrelvir + Ritonavir film-coated tablet among medicines prescribed for COVID-19 treatment — and to reiterate that the VAT exemption of the covered medicines and medical devices takes effect on the date of the FDA's publication of the list updates.

Bureau of Internal RevenueIndependent research copy

Document type: RMC
Number: 119
Year: 2022
Text quality: Not specified

Document text

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RMC No. 119-2022 (August 8, 2022) publishes the July 20, 2022 letter of FDA OIC-Director General Oscar G. Gutierrez, Jr. endorsing updates to the “List of VAT-Exempt Medicines” under the CREATE Act (Republic Act No. 11534), which now include the 150 mg + 100 mg Nirmatrelvir + Ritonavir film-coated tablet among medicines prescribed for COVID-19 treatment. As clarified in 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 updates to the list.