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Revenue Memorandum Circular · RMC

RMC No. 5-2022

To publish the FDA's endorsement of the Corrigendum to the List of Medicines for Kidney Diseases and to update and supplement the controlling consolidated list of VAT-exempt products published under RMC No. 81-2021.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
5
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 5-2022 (issued January 17, 2022) publishes the letter of FDA Director General Rolando Enrique D. Domingo endorsing the "Corrigendum to the List of Medicines for Kidney Diseases," issued pursuant to Section 109(1)(AA) of the Tax Code of 1997, as amended by Republic Act No. 11534, and implemented under Section 4.109-(1)(B)(aa) of Revenue Regulations No. 4-2021, as amended. The Circular updates and supplements RMC No. 81-2021, whose consolidated list of VAT-exempt products has become the controlling list for VAT exemption of items under Sections 109(1)(AA) and 109(1)(BB)(ii) of the Tax Code.