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.
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.
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