BIR Issuances – RMC 17-2024
The BIR published the Full Text of the November 29, 2023 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 (RA) No. 10963 (TRAIN Law) and RA No. 11534 (CREATE Act).
Revenue Memorandum Circular (RMC) No. 17-2024
26 January 2024
The BIR released an update to the published List of VAT-Exempt Medicines Under RA No. 11534 or the CREATE Act, particularly the following:
- Inclusion of certain medicines for cancer, diabetes, hypertension, kidney disease, mental illness, and tuberculosis; and
- Deletion of medicine for hypertension.
The BIR clarified that the EFFECTIVITY of the VAT EXEMPTION of the covered medicines and medical devices under the CREATE Act shall be on the DATE OF PUBLICATION by the FDA of the updates of the said list.
Copy of the RMC and November 29, 2023 Letter from Dr. Samuel A. Zacate, Director General of the FDA can be accessed below.
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