Summary
RMC No. 156-2022 publishes the November 23, 2022 letter from the Food and Drug Administration (FDA) endorsing updates to the List of VAT-Exempt Medicines under Republic Act No. 11534 (CREATE Act).
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Key points
- Medicines added. The list now includes certain medicines prescribed for hypertension, diabetes, high cholesterol, tuberculosis, mental illness and cancer.
- Effectivity. As clarified in Q&A No. 1 of RMC No. 99-2021, the VAT exemption takes effect on the date the FDA publishes the updates to the list.
Deadlines and effectivity
- FDA letter dated November 23, 2022
- VAT exemption effective on the date of FDA publication of the updates
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.