Medtech To Benefit From 20% Corporate Rate, Tax-Free Foreign Transfers In Pending US Tax Bill

Medical device firms will benefit from a Republican tax bill that has passed the full US House and a key Senate committee. The bill lowers the corporate tax rate to 20% from a maximum of 35%, treats foreign-earned intangible income at a favorably low rate of 12.5%, and permits tax-free transfers of intangible corporate property, such as patents, from foreign firms to US parents.