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September 3, 2020

Washington Dispatch for August 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

  • Treasury and IRS finalize DRD anti-abuse regulations with few changes
  • Treasury and the IRS propose complex, taxpayer-favorable regulations to reduce possibility of double taxation caused by anti-abuse rules on GILTI gap period

Tax treaty news

  • US, Swiss competent authorities reach agreement on treaty arbitration process

Digital Taxation

  • UN tax committee issues proposal for taxing digital services income