RMC No. 113-2022: Publishes the July 1, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)

Summary

RMC No. 113-2022 publishes the July 1, 2022 Food and Drug Administration letter endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act).

Key points

1. Update to the list. The letter comes from FDA OIC-Director General Oscar G. Gutierrez, Jr. The list deletes and corrects certain medicines prescribed for COVID-19 treatment.
2. When the exemption takes effect. As clarified under Q&A No. 1 of RMC No. 99-2021, the VAT exemption of the covered medicines and medical devices takes effect on the date the FDA publishes the updates to the list.

Deadlines and effectivity

• FDA letter dated July 1, 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.