August 7, 2020 2020-2009 Washington Dispatch for July 2020 The latest edition of Ernst & Young's Washington Dispatch is attached below. Prepared by Ernst & Young's International Tax and Transaction Services group, this monthly newsletter summarizes recent developments in US international taxation. Highlights of this month's edition include: Treasury and IRS news - IRS issues final and proposed interest expense limitation regulations
- Final and proposed GILTI regulations deliver few benefits and more than a few surprises
- Final FDII regulations retain proposed regulations’ structure, but reduce documentation burden, defer effective date and make important substantive changes to computation of Section 250 deduction
- IRS releases new draft partnership Schedules K-2 and K-3 for international tax reporting
OECD news - G20 Finance Ministers and Central Bank Governors’ meeting communiqué reiterates commitment to address digitalization tax challenges
- OECD releases new corporate tax statistics including anonymized and aggregated Country-by-Country report statistics
- OECD releases model rules for data reporting by platform operators for sellers in the sharing economy
——————————————— ATTACHMENT Washington Dispatch for July 2020 
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