Medical device excise tax final guidance makes few changes to accounting implications

Final regulations released December 5, 2012, gave little clarification to the accounting implications of a 2.3% excise tax on US medical device sales imposed by the Health Care and Education Reconciliation Act of 2010 as part of the healthcare reform package.

The MDET applies to sales of any taxable medical device by a manufacturer, producer, or importer after December 31, 2012. Medical device manufacturers should have already begun accounting for this tax and considering its impact on their 2013 financial results. Many medtech companies still have questions about the definition of the term taxable medical device and how to recognize and classify the tax in their financial statements. This issue of Medtech Focus attempts to answer some of those questions.

Medtech Focus: Medical device excise tax final guidance makes few changes to accounting implications

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