07 December 2021

Washington Dispatch for November 2021

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

Legislation

House passes Build Back Better Act budget reconciliation bill; action moves to Senate

  • President Biden signs infrastructure legislation including new cryptocurrency reporting

    IRS news

    Final FTC regs expected by year-end, PTEP regs in 2022

  • New IRS tool supports withholding agents’ compliance with Form 1042-S

    Digital Taxation

    US, Turkey announce joint statement on unilateral digital tax compromise 

  • India, US agree on transitional approach for 2% Equalization Levy prior to implementation of Pillar One rule

  • OECD remains committed to BEPS Pillars in effect by end of 2023 

    OECD news

    OECD releases 2020 MAP statistics and awards

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    ATTACHMENT

    Washington Dispatch for November 2021

    Document ID: 2021-6342