Medical device maker have a new tax to worry about as Puerto Rico extends back down from a medical device tax increase expected for 2016.

healthcare and money

Puerto Rico officials backed down from a reduction in the country's medical device tax, planning instead to extend a temporary increase for another year.

The 4% tax, originally imposed in 2010, was supposed to shrink each year and drop to 1% in 2016. Treasury officials instead announced plans to seek an extension of the 4% tax rate through 2017, a move that U.S. medical device lobby group AdvaMed "strongly opposes."