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April 5, 2023
2023-5400

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

 
 

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