RMC No. 93-2024: Publishing the Full Text of the June 20, 2024 Letter from the Food and Drug Administration (FDA) of the Department of Health (DOH) Endorsing Updates to the List of VAT-Exempt Products Under Republic Act (R.A.) No. 10963 (TRAIN Law) and R.A. No. 11534 (CREATE Act)

Summary

RMC No. 93-2024 publishes the full text of the June 20, 2024 letter from the Food and Drug Administration of the Department of Health. The letter endorses updates to the List of VAT-exempt products under RA No. 10963 and RA No. 11534.

Key points

1. Medicines added to the list. The updated list now includes certain medicines for cancer, high cholesterol, hypertension, and mental illness.
2. Medicines removed from the list. Medicines for hypertension are deleted.
3. 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 list updates.

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.