MANILA – Over 2,200 medicines are now value-added tax (VAT)-exempt, the Bureau of Internal Revenue (BIR) announced Wednesday. The BIR released Revenue Memorandum Circular (RMC) No. 87-2026, which updated the list of 2,277 VAT-exempt medicines endorsed by the Food and Drug Administration (FDA) pursuant to Republic Act 10963 (TRAIN law) and Republic Act 11534 (CREATE
