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08 April 2022

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

    Document ID: 2022-5378

     
     

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