Summary
RMC No. 100-2024 publishes the full text of the August 7, 2024 letter from FDA Director General Samuel A. Zacate. The letter endorses updates to the List of VAT-Exempt Products under RA No. 10963 and RA No. 11534.
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Key points
- Medicines on the updated list. The list now includes certain medicines for cancer, diabetes, hypertension, kidney diseases, mental illness and tuberculosis.
- When the exemption takes effect. Under Q&A No. 1 of RMC No. 99-2021, the VAT exemption of covered medicines and medical devices under the CREATE Act starts on the date the FDA publishes the updates to the list.
Deadlines and effectivity
- VAT exemption effective on the date of FDA publication of the list 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.