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

     This week's tax news from the Americas

• Brazilian Government publishes Provisional Measure introducing OECD Pillar Two rules
  On 3 October 2024, the Brazilian Government published Provisional Measure (PM) No. 1.262 and Normative Instruction No. 2.228 to introduce the Pillar Two rules from the Base Erosion and Profit Shifting (BEPS) project of the Organisation for Economic Co-operation and Development (OECD). The PM aims to follow the Global Anti-Base Erosion Model Rules, including a qualified domestic minimum top-up tax. When signed and published by the President, a PM has immediate effect and the power of law. To be enacted as law, a PM must be approved by Congress within 60 calendar days of its publication.

• Argentine Chamber of Deputies approves Multilateral Instrument and other tax treaties
  During a recent session, the Argentine Chamber of Deputies took action regarding the Multilateral Instrument to implement tax-treaty-related BEPS measures and tax treaties between Argentina and China, Luxembourg, Austria and Turkiye.

• Uruguay and United States approve exchange-of-information agreement
  Uruguay and the United States approved an exchange-of-information agreement (Agreement) on tax matters in Uruguay. The Agreement stipulates that information will be exchanged if it is foreseeably relevant to the determination, assessment and collection of taxes.

     This week's newsletters

• Report on recent US international tax developments - 11 October 2024
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.
• TradeFlash | October 2024
  Our monthly roundup of the latest developments in global trade around the world.
• IFRS version of Quarterly Tax Developments – September 2024
  Our publication provides a quarterly overview of enacted and substantively enacted tax legislation and IFRS accounting developments, as well as regulatory developments and other items.

     Upcoming EY webcasts

• 17 October: How digitalization reshapes supply chains and operating models
• 17 October: Tax and Finance transformation: Insights and leading practices for operating your tax and finance function
• 18 October: Tax in a time of transition: US legislative, economic, regulatory and IRS developments
• 24 October: Private Equity & Private Capital Quarterly Tax Update - Q3 2024
• 29 October: How to channel the talent forces and flows shaping the future
• 30 October: US corporate income tax compliance: Insights from Tax Year 2023 and considerations for the future

A calendar of all upcoming EY webcasts is available.

     Recent EY podcasts

• EY Podcast | Weekly US international cross-border taxation news for week ending 11 October 2024
• EY Podcast | EY Transfer Pricing Roundup - Help with common risks in transfer pricing approaches (10 October 2024)
• EY Podcast | EY Transfer Pricing Roundup - A Public CBCR announcement (7 October 2024)
• EY talks tax | BorderCrossings with EY transfer pricing and tax professionals (26 September 2024)
• EY talks tax | Accounting for income taxes: A quarterly perspective (24 September 2024)

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

• Colombia extends deadline to obtain new residence permits until 31 October 2026
• USCIS updates Policy Manual to reflect new guidance on EB-1 extraordinary ability criteria

     Africa

• South Africa announces five-year plan to digitize immigration services
• South Africa provides additional clarifications regarding Zimbabwean Exemption Permits, Lesotho Exemption Permits and General Work Visas
• South Sudan Revenue Authority issues circular on administration of personal income tax

     Asia

• Mauritius and Bangladesh execute protocol amending tax treaty
• Sri Lanka reinstates ETA two months after suspending the e-Visa system

     Europe

• EU Deforestation Regulation; Insights into 12-month delay and recent updates
• Ireland Budget 2025 | An overview for international investors

     Oceania

• New Zealand Inland Revenue releases 2024 MNE Compliance Focus document

Additional resources

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.