BIR Issuances – RMC 34-2024

The BIR published the Full Text of the February 5, 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 R.A. No. 10963 (TRAIN Law) and R.A. 11534 (CREATE Act). 

Revenue Memorandum Circular (RMC) No. 34-2024

5 March 2024

The BIR announced the inclusion of certain medicines for cancer, hypertension, and mental illness to the published List of VAT-Exempt Medicines Under the TRAIN Law and the CREATE Act in accordance with the letter (Annex “A”) dated February 5, 2024 from Dr. Samuel A. Zacate, Director General of the FDA.

BIR also clarified that under Q&A No. 1 of RMC No. 99-2021, 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 to the said list.

Copy of the RMC and Letter dated February 5, 2024 from Dr. Zacate can be accessed thru the links below.