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05 April 2023

Washington Dispatch for March 2023

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

President Biden releases FY’24 Budget with major international policy proposals

  • House Ways and Means Committee Chairman calls BEPS Undertaxed Profits Rule ‘fundamentally flawed’

    Treasury and IRS news

    US officials offer insights on major pending international regulatory projects 

  • Turkish Lira’s hyperinflationary status has federal tax implications for US multinationals

  • IRS announces plans to issue guidance on certain NFTs as collectibles

    Transfer pricing

    IRS planning new APA process

  • IRS considering Section 482 regulation for parent’s implicit support in pricing intercompany loans

    OECD developments 

    OECD holds public consultation meeting on compliance and tax certainty aspects of BEPS Pillar Two global minimum tax

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    ATTACHMENT

    Washington Dispatch for March 2023

    Document ID: 2023-5400

     
     

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