07 Sept 2014
Given the government's stated commitment to encouraging manufacturing, it would be interesting to see whether its first Budget addresses an obvious anomaly in how medical devices are taxed. As things stand, the system is skewed heavily in favour of companies that import devices rather than those that manufacture locally. Not surprisingly, about 80% of the medical devices market consists of imported devices, which have added substantially to the cost of healthcare and, hence, to what patients have to shell out.
