Home > Newsletters > FDAnews Device Daily Bulletin > Industry: IRS Needs to Better Define ‘Taxable Use’ in Excise Tax Rule
FDAnews Device Daily Bulletin
May 16, 2012 | Vol. 9 No. 97
Industry: IRS Needs to Better Define ‘Taxable Use’ in Excise Tax Rule
Internal Revenue Service guidelines on the 2.3 percent medical device tax should make clear that manufacturers won’t have to pay taxes on products from which they derived no direct benefit, such as demonstration products and replacement parts provided free of charge, AdvaMed said in comments on a proposed rule on the tax. During a May 8 press call, association counsel Andy Van Houten singled out taxable uses outside the sale of a device as a “very significant” concern, along with accounting for rebates, the retail exemption and constructive pricing.
Devices & Diagnostics Letter
ePublishing :: CMS, Hosting & Web Development | © Copyright by FDAnewsAll rights reserved. Do not duplicate or redistribute in any form.