Be the first to like this
An excise tax of 2.3% on the sale, lease, rental or use of certain medical devices was mandated by the 2010 health care reform legislation and goes into effect 1 January 2013. The tax applies to manufacturers, producers and importers of taxable medical devices. In some situations, a health care organization such as a hospital or other provider may also be liable for the tax. This Technical Line addresses who is affected by the tax and how it should be calculated. The publication also addresses accounting considerations under US GAAP and IFRS.