The latest edition of Ernst & Young's Washington Dispatch is attached below. Prepared by Ernst & Young's International Tax Services group, this monthly newsletter summarizes recent developments in US international taxation. Highlights of this month's edition include:

Legislation

— House Republicans release tax reform 2.0 framework; TCJA technical corrections slated for post-mid-term elections

IRS news

— IRS issues final anti-corporate inversion regulations
— Proposed repatriation transition tax regulations release imminent; Treasury official offers insights on other international projects
— IRS memo denies DRD to affiliated group by treating swap on a stock index as substantially similar or related property with respect to single issue of stock
— Treasury FATCA report finds fault with IRS

Transfer pricing news

— IRS publishes new guide on transfer pricing examinations

OECD news

— OECD releases first discussion draft on transfer pricing aspects of financial transactions
— OECD Secretary-General sends G20 finance ministers annual BEPS progress report, update on IMF/OECD Report on Tax Certainty

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ATTACHMENT

Washington Dispatch for July 2018