05 October 2023

Washington Dispatch for September 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

Senate Finance Committee approves US-Taiwan tax bill

  • House Republicans want countries to delay BEPS Pillar Two, adopt GILTI-like regime

    IRS news

    IRS publishes additional interim guidance clarifying CAMT

  • IRS announces intent to issue proposed regulations for Section 174, would affect cost sharing arrangements

  • US Government considering extension of temporary FTC relief, guidance on taxes paid under BEPS Pillar Two

  • IRS official offers international regulatory update

  • 2024 CAP program accepting new applications

  • IRS announces major new compliance initiative targeting large partnerships

    ___________________________

    ATTACHMENT

    Washington Dispatch for September 2023

    Document ID: 2023-5646