REVENUE MEMORANDUM CIRCULAR NO. 42-2023 issued on April 4, 2023 publishes the February 21, 2023 letter from Food and Drug Administration (FDA) Director General Samuel A. Zacate, Jr. endorsing updates to the “List of VAT-Exempt Medicines” under Republic Act Nos. 10963 (TRAIN Law) and 11534 (CREATE Act). The List now includes certain medicines for cancer, diabetes, kidney disease, mental illness, and tuberculosis, and corrects medicines for high cholesterol and 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.