Sign up for tax alert emails    GTNU homepage    Tax newsroom    Email document    Print document    Download document

August 26, 2024
2024-1592

Americas Tax Roundup | 23 August 2024

 
 

A weekly summary of the top weekly tax news, trends
and developments in the Americas

 
 
      
 

     This week's tax news from the Americas

  • Canada Department of Finance releases draft legislation for 2024 budget and other measures
    In keeping with what has become a summer tradition, Canada’s Department of Finance has released several packages of draft legislative proposals for public comment. The draft legislative proposals, released on 12 August 2024, implement most of the remaining tax measures from the 2024 federal budget (Budget 2024), other previously announced tax measures and various tax technical amendments.
  • Argentine Budget and Finance Committee approves Multilateral Instrument
    The Argentine Budget and Finance Committee of the Chamber of Deputies approved a bill to ratify the Multilateral Instrument (MLI) to implement Tax-Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (BEPS). Argentina signed the MLI on 7 June 2017, including a provisional list of expected reservations and notifications covering the bilateral tax treaties signed by Argentina.
  • OECD releases selection documentation package for MNEs participating in ICAP risk assessments
    On 1 August 2024, the Organisation for Economic Co-operation and Development (OECD) Forum on Tax Administration published on their website a list of documentation requirements for the selection stage of the International Compliance Assurance Program (ICAP). The selection stage requires a multinational enterprise (MNE) to provide the following information when it applies to ICAP (i) submission checklist; (ii) MNE group information form; (iii) MNE covered-risk overview; and (iv) MNE group Advance Pricing Agreement details.
  • UN Ad Hoc Committee advances Terms of Reference for a Framework Convention on International Tax Cooperation
    On 16 August 2024, the United Nations (UN) Ad Hoc Committee voted to approve Terms of Reference (ToR) for the development of a UN Framework Convention on International Tax Cooperation (the Framework Convention). The ToR provide that the Framework Convention should encompass structural elements, such as a clear statement of objectives, principles, and commitments to achieving the objectives. The ToR will be presented to the UN General Assembly for vote during its 79th session in New York, which begins in September 2024. If adopted, the ToR provide for the Framework Convention to be developed by 2027.
  
 
 

     This week's newsletters

  
 
 

     Upcoming EY webcasts

A calendar of all upcoming EY webcasts is available.

  
 
 

     Recent EY podcasts

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

  
 
 

      This week's EY Global Tax Alerts

     Americas

     Africa

     Asia

     Europe

  
 
 
 

Additional resources

EY Global Tax News Update
EY's Global Tax Alerts and other content can be delivered directly to your inbox. Register for EY's Global Tax News Update.

EY Guides available for download
Browse our in-depth guides covering corporate tax, indirect tax, personal taxes, TP and other tax matters in more than 150 countries.

Comments. If you have any questions or suggestions about this newsletter, please email Global Tax News Update Help at: globaltaxnewsupdatehelp@ey.com.

 
 
 
 

About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Brittenham, writer and editor

Distributed weekly to all Americas Tax personnel.

 
 
 
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 2024, Ernst & Young LLP.

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.

 

"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

 

Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.

 


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or ey.com. Please refer to the privacy notice/policy on these sites for more information.


Yes, I accept         Find out more