04 September 2019

Washington Dispatch for August 2019

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 and IRS news

— IRS issues proposed regulations addressing cloud-based and other digital transactions

— IRS begins to increase enforcement efforts in cryptocurrency space

— IRS will allow domestic partnerships, S corps to apply proposed GILTI regulations before 22 June 2019

Transfer Pricing news

— US Court of Appeals affirms Tax Court’s decision in Amazon case

— IRS withdraws “Altera Memo” Directive on cost-sharing arrangement stock- based compensation

OECD Developments

— OECD releases United States Stage peer review report on implementation of Action 14 minimum standard

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ATTACHMENT

Washington Dispatch for August 2019

Document ID: 2019-6085