Tax Alert No. 24 [Revenue Memorandum Circular (RMC) No. 51-2022 dated 21 April 2022; RMC No. 56-2022 dated 18 March 2022; RMC No. 57-2022 dated 14 February 2022; RMC No. 58-2022 dated 14 March 2022; RMC No. 59-2022 dated 10 March 2022; and RMC No. 66-2022 dated 22 April 2022]

Revenue Memorandum Circulars publishing the letters from the Food and Drug Administration (FDA) of the DOH endorsing updates to the list of VAT-exempt medicines and medical devices under RA No. 11534 (CREATE Act)

The Bureau of Internal Revenue has issued the following RMCs publishing the letters of the FDA endorsing the inclusion, correction, and/or deletion of certain medicines and medical devices in the list of VAT-exempt items in accordance with Republic Act No. 11534, or the CREATE Act:

1. RMC No. 51-2022 publishes the letter dated 11 April 2022 for the inclusion of certain medicines for hypertension and COVID-19 treatment, as well as the correction of medicines for cancer;
2. RMC No. 56-2022 publishes the letter dated 16 March 2022 for the inclusion and correction of medicines for COVID-19 treatment; 
3. RMC No. 57-2022 publishes the letter dated 02 February 2022 for the inclusion of certain medicines for hypertension, diabetes and COVID-19;
4. RMC No. 58-2022 publishes the letter dated 10 March 2022 for the correction of the names of certain medicines for hypertension and COVID-19 treatment;  
5. RMC No. 59-2022 publishes the letter dated 04 March 2022 for the inclusion of certain medicines for cancer and COVID-19 treatment; and,
6. RMC No. 66-2022 publishes the letter dated 08 April 2022 for the inclusion, deletion and/or correction of certain medical devices for COVID-19 treatment. 

Download Annex “A” of this tax alert for the summary list of medicines recommended for exemption from VAT as provided under the CREATE Act. 

You may access the full version of the Circulars through the BIR website.