Special InTAX: January 2024 Issue 1 | Volume 5
InTAX is an official publication of R.G. Manabat & Co.'s Tax Group
InTAX is an official publication of R.G. Manabat & Co.'s Tax Group
Bureau of Internal Revenue
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 7-2024 dated 11 January 2024, to inform the public and all concerned that effective 01 January 2024, the sale or importation of goods related to prevention and treatment of COVID-19 under Section 109 (BB) of the National Internal Revenue Code of 1997, as amended (Tax Code) shall be subject to Value-Added Tax (VAT) (i.e., no longer considered a VAT-exempt transaction).
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