REVENUE MEMORANDUM CIRCULAR NO. 122-2020 issued on November 23, 2020 publishes the letter from the Food and Drug Administration (FDA) regarding clarification on the List of VAT-Exempt Drugs under Joint AO No. 2-2018.
In the letter, FDA Director Jesusa Joyce N. Cirunay clarifies certain drug products included in the lists initially provided by the FDA that were circulated through Revenue Memorandum Circular (RMC) No. 62-2020 and RMC No. 101-2020, which is based on the International NonProprietary Name (INN) or generic name of the drug products that include salt forms.