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01 November 2018

Washington Dispatch for October 2018

The latest edition of Ernst & Young's Washington Dispatch is attached below. Prepared by Ernst & Young's International Tax Services group, this monthly newsletter summarizes recent developments in US international taxation. Highlights of this month's edition include:

Treasury news

— Treasury expects to release most TCJA international proposed regulations by year-end

IRS news

— IRS issues proposed regulations reducing potential income inclusions for certain domestic corporations owning stock in foreign corporations
— IRS announces changes to Section 965 transition tax rules affecting basis election deadline, aggregate foreign cash position, and relief related to Hurricane Florence
— IRS issues guidance for REITs on treatment of certain income inclusions from foreign corporations
— IRS to move on withholding tax campaigns in 2019

Digital Taxation

— US reaffirms opposition to unilateral digital tax measures

OECD developments

— OECD on track for digital tax framework
— OECD releases 2017 Mutual Agreement Procedure statistics

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ATTACHMENT

Washington Dispatch for October 2018

Document ID: 2018-6271

 
 

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