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04 February 2020

Washington Dispatch for January 2020

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

Treasury and IRS news

  • US officials offer new insights in coming international guidance 
  • IRS final regulations on US partner contributions to partnerships with related foreign partners have few changes from prior temporary regulations
  • Final FATCA and chapter 3 regulations issued 
  • IRS will consider certain requests for double taxation relief due to Section 965 repatriation
  • IRS rules target’s capitalized transaction costs do not create a separate and distinct intangible asset 

OECD news

  • OECD announces renewed IF commitment for 2020 consensus on new international tax rules under BEPS 2.0
  • OECD releases additional guidance on CbCR and summary of related notification requirements 
  • OECD releases third peer review report on Action 5 on the exchange of tax rulings 

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ATTACHMENT

Washington Dispatch for January 2020

Document ID: 2020-5182

 
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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