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| | A summary of the top weekly tax developments in the Americas | |
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| | This week's tax news from the Americas - Uruguay issues resolution introducing reporting obligations for digital platforms intermediating real estate rentals
In Resolution No. 1518/2026 (published on 1 July 2026), the Uruguayan Tax Administration establishes a new reporting regime for digital platform operators that act as intermediaries in the rental of immovable property located in Uruguay. Under the resolution, platform operators must report information on rental transactions carried out through their platforms in accordance with the Organisation for Economic Co-operation and Development’s reporting standard for digital platform operators.
- Canada’s Tax Court provides clear transfer pricing guidance in ExxonMobil case
In ExxonMobil Canada Resources Company v. The King, the Tax Court of Canada provides the most comprehensive judicial discussion of transfer pricing principles in Canada to date. The court held that a taxpayer could deduct allocated feasibility study costs and that Canadian tax law did not limit the deduction. The decision provides important guidance on what constitutes a reliable transfer pricing analysis, including a company analysis, industry analysis, functional analysis and economic analysis. It also confirms that recharacterization under Canadian tax law requires both that (1) no arm’s-length person would have entered into the transaction under any circumstances; and (2) the taxpayer did not have a bona fide purpose for entering into the transaction other than to obtain a tax benefit.
- Uruguayan Executive Branch submits bill to approve tax treaty with Turkiye
On 16 June 2026, the Uruguayan Executive Branch submitted a bill to Parliament seeking approval of the tax treaty between Uruguay and Turkiye, as well as an amendment proposed by the Republic of Turkiye. The amendment modifies the definition of "Uruguay" for treaty purposes by clarifying that the term includes the land territory, airspace and maritime areas under Uruguay's jurisdiction, in accordance with international law, and removes references to domestic legislation.
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| | This week's newsletters | | |
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| | Upcoming EY webcasts A calendar of all upcoming EY webcasts is available. | | |
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| | Recent EY podcasts All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts. | | |
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| | This week's EY Global Tax Alerts Africa Europe | | |
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| | This week's publications Insurance Payments Power and Utilities Strategy Tax | | |
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| | Additional resources EY Global Tax News Update
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| | About Americas Tax Roundup Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Mannetta, writer and editor Distributed weekly to all Americas Tax personnel. | |
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