Tax Alert No. 39 [Revenue Memorandum Circular (RMC) Nos. 110-2022 dated 1 July 2022, 112-2022 dated 04 July 2022 and 113-2022 dated 13 July 2022]

Publishing the Full Text of the 30 May 2022, 27 June 2022 and 1 July 2022 Letters from the Food and Drug Administration (FDA) of the Department of Health (DOH) Endorsing Updates to the List of VAT-Exempt Medicines Under Republic Act (R.A.) No. 11534 Known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act

The Commissioner of Internal Revenue (CIR) has issued RMC Nos. 110-2022, 112-2022 and 113-2022, publishing the full text of the 30 May 2022, 27 June 2022 and 1 July 2022 letters from the FDA of the DOH on the inclusion of certain medicines prescribed for cancer and tuberculosis, and inclusion, deletion and correction of certain medicines prescribed for COVID-19 treatment, to the List of VAT-Exempt Medicines Under R.A. No. 11534 or the CREATE Act. 

You may access the full version of the Circular and Annex through the BIR website.