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Revenue Memorandum Circular · RMC

RMC No. 124-2022

To publish the August 15, 2022 letter of FDA Director General Samuel A. Zacate endorsing updates to the "List of VAT-Exempt Medicines" under Republic Act No. 11534 (CREATE Act).

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
124
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 124-2022 (September 1, 2022) publishes the August 15, 2022 letter of FDA Director General Samuel A. Zacate endorsing updates to the "List of VAT-Exempt Medicines" under Republic Act No. 11534 (CREATE Act). The updated list now includes medicines prescribed for cancer, tuberculosis, and mental illness, and corrects medicines prescribed for diabetes and hypertension. As clarified under Q&A No. 1 of RMC No. 99-2021, the VAT exemption on the covered medicines and medical devices takes effect on the date the FDA publishes the updates to the list.