The latest edition of Ernst & Young's Global Tax Policy and Controversy Briefing is attached below. Prepared by Ernst & Young's Tax Controversy and Policy group, Tax Policy and Controversy Briefing is a quarterly publication summarizing recent developments and news pertinent to multinational companies. Highlights of this edition include:

Special edition: BEPS final recommendations

— Statement of Barbara M. Angus to the House Committee on Ways and Means Subcommittee on Tax Policy Hearing on the OECD Base Erosion and Profit Shifting Project
— BEPS: The European dimensions
— Deciphering the BEPS Recommendations: How the three categories of Action will drive implementation
— Action 1: OECD issues final report on the tax challenges of the digital economy
— Action 2: OECD releases final report on Hybrid Mismatch Arrangements
— Action 3: OECD releases final report on CFC rules
— Action 4: OECD releases final report on limitations on interest deductions
— Action 5: OECD releases final report on countering harmful tax practices
— Action 6: OECD releases final report on preventing treaty abuse
— Action 7: OECD releases final report on preventing the artificial avoidance of permanent establishment status
— Action 8: OECD issues final guidance on transfer pricing for intangibles
— Action 8-10: OECD releases new guidance on cross-border commodity transactions
— Action 8-10: OECD releases final transfer pricing guidance on risk and recognition
— Action 8-10: OECD releases new guidance on transfer pricing for low value-adding intra-group services
— Action 11: OECD releases final report on measuring and monitoring BEPS
— Action 12: OECD releases final report on mandatory disclosure rules
— Action 13: OECD releases final report on transfer pricing documentation and country-by-country reporting
— Action 14: OECD releases final report on improving the effectiveness of dispute resolution mechanisms
— Action 15: OECD releases final report on developing a multilateral instrument to modify bilateral tax treaties under BEPS

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