December 23, 2022
EY Podcast: weekly US international cross-border taxation news for week ending 23 December 2022
EY’s Spotlight podcast is a review of the week's major US international tax-related developments. Highlights of this week’s edition include:
US Congress passes $1.7 trillion spending bill; no Tax Title
Treasury plans guidance on CAMT and stock buyback excise tax by year-end
IRS announces it will issue proposed regulations amending final Section 1446(f) final withholding regulations for PTPs
Treasury official says GILTI will need to be reformed
Congressional Republican lawmakers voice concerns over BEPS Pillar Two Undertaxed Profits Rule
OECD issues (i) consultation document on Pillar One MLI re: DSTs; (ii) consultation document on Pillar Two GloBE information return; (iii) consultation document on Pillar Two tax certainty for GloBE rules; and (iv) guidance on Pillar Two safe harbors and penalty relief
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