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REVENUE MEMORANDUM CIRCULAR NO. 17 – 2024
Publishes the November 29, 2023 letter from Food and Drug Administration (FDA) Director General Samuel A. Zacate endorsing updates to the List of VAT-Exempt Medicines under Republic Act No. 11534 (CREATE Act), which now includes certain medicines for cancer, diabetes, hypertension, kidney disease, mental illness and tuberculosis and deletes medicine for hypertension.
As clarified under Q&A No. 1 of Revenue Memorandum Circular 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.
Refer to Annex A of this RMC for the detailed list of medicines considered as VAT exempt.