German tax cuts welcomed by industry:
This article was originally published in Clinica
Germany's medical device industry has welcomed the tax reform measures agreed by the upper and lower houses of parliament, the Bundesrat and Bundestag, which will result in the biggest tax cuts in the country's history. The tax relief legislation is due to come into effect on January 1 2001, with the DM60 billion ($29 billion) tax cuts being introduced in stages up to 2005. Joachim Schmitt, director general of BVMed, the German device industry association, said the tax reform programme was "extremely good news not only for medical device companies in Germany, but also for international manufacturers investing in Germany".