Summary
RMC No. 5-2022 publishes a letter from FDA Director General Rolando Enrique D. Domingo endorsing the Corrigendum to the List of Medicines for Kidney Diseases, as an update to the List of VAT-Exempt Products under RA Nos. 10963 and 11534.
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Key points
- Legal basis. The letter is made under Section 109(1)(AA) of the Tax Code of 1997, as amended by RA No. 11534, and as implemented under Section 4.109-(1)(B)(aa) of RR No. 4-2021, as amended.
- Relation to RMC No. 81-2021. This circular updates and supplements RMC No. 81-2021, which published the consolidated list of VAT-exempt products. That list controls the VAT exemption under Sections 109(1)(AA) and 109(1)(BB)(ii) of the Tax Code.
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.