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11 January 2019

Washington Dispatch for December 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:

Legislation

— Congress fails to enact year-end tax bill
— JCT issues ‘Blue Book’ on Tax Cuts and Jobs Act

Treasury and IRS news

— IRS proposed regulations provide guidance on the base-erosion and anti-abuse tax under Section 59A
— IRS issues proposed regulations addressing foreign persons’ taxable gain or loss from sale / exchange of interests in partnerships engaged in US business
— IRS issues proposed hybrid dividends / entities regulations
— IRS announces future foreign corporate PTEP regulations
— IRS issues proposed regulations to ease burdens under FATCA and Chapter 3
— US Treasury grants another extension of time for reporting signature authority (FBAR, Form 114) over certain foreign financial accounts

OECD developments

— OECD publishes tax report to G20 leaders
— OECD releases second annual peer review report on Action 5 on the exchange of tax rulings

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ATTACHMENT

Washington Dispatch for December 2018

Document ID: 2019-5049

 
 

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