August 5, 2022
EY Podcast: monthly ITS Washington Dispatch (July 2022)
EY’s monthly Washington Dispatch podcast summarizes recent developments in US international taxation. Highlights of this month's edition include:
US Senate Majority Leader, Sen. Manchin reach agreement on $740b budget reconciliation bill with 15% corporate minimum tax
Congress passes CHIPS bill with investment tax credits and incentives
Treasury and IRS publish technical corrections to final foreign tax credit regulations
IRS proposed regulations would limit Section 1256 mark-to-market accounting for FX contracts to FX forward contracts
Treasury announces termination of tax treaty with Hungary
OECD releases Progress Report on Amount A of Pillar One of BEPS 2.0 project
G20 Finance Ministers reiterate commitment to BEPS 2.0 two-pillar implementation
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