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April 8, 2022
2022-5378

Washington Dispatch for March 2022

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

  • Biden Administration releases FY2023 Budget with several new international tax proposals

  • Congress passes omnibus appropriations bill with no tax title; Democrats still hope for reconciliation package

  • Senate Finance Committee Chairman supports tax sanctions for Russia, Belarus 

Treasury and IRS news

  • Final FTC regulations will be revisited to address BEPS 2.0 Pillar Two rules 

  • Proposed PTEP regulations coming second half of 2022 

Tax treaties

  • Senate Foreign Relations Committee reports out proposed US-Chile tax treaty 

OECD developments

  • OECD releases Commentary and illustrative examples on Pillar Two Model Rules

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ATTACHMENT

Washington Dispatch for March 2022

 
 

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