AdvaMed Seeks Broad Exemptions From Medical Device Excise Tax
This article was originally published in The Gray Sheet
Executive Summary
The Internal Revenue Service should be flexible in deciding which medical devices will be exempt from a new excise tax, AdvaMed says.
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Industry Fears 'Double Taxation' For Combo Products, Device Kits
IRS is developing guidance to implement a 2.3% device tax created by the health care reform law and set to go into effect on Jan. 1, 2013. But companies selling drug-device combination products are concerned that they could be liable for both the device tax and a prescription drug manufacturer fee also established in the 2010 reforms.
Industry Fears 'Double Taxation' For Combo Products, Device Kits
Internal Revenue Service guidance on the medical device tax should ensure that combination products and other items are not double-taxed, AdvaMed and other industry stakeholders say.