FDA delists COVID meds, devices from VAT exemption

Administration The Food and Drug has released a list of COVID-19 medicines that were removed from the group of health products given an exemption from value-added tax or VAT.

- RHODINA VILLANUEVA

In Advisory 2024-0498, the FDA said COVID-19 medicines and medical devices are no longer included among the VAT-exempt health products, citing Section 12 of Republic Act 11534, or the Corporate Recovery and Tax Incentives for Enterprises Act, that gave the VATExemption for medical device, drugs and vaccines until Dec. 31, 2023.

"Under this law, the FDA is mandated to identify and transmit VAT-exempt health products to other implementing agencies.

In line with this, the following are hereby delisted from the List of VAT-exempt Health Products," the advisory reads.