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December 7, 2020

Washington Dispatch for November 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 regulations to reduce possibility of double taxation caused by anti-abuse rules on GILTI gap period
  • IRS officials provide international regulatory update

Transfer Pricing news

  • US, Mexico renew competent authority agreement on unilateral APAs for maquiladoras
  • IRS updates list of jurisdictions for automatic exchange of CbC reports
  • IRS reviewing stock-based compensation in cost-sharing context

OECD Developments

  • OECD will hold virtual public consultation on BEPS 2.0 Pillar 1 and Pillar 2 in mid-January 2021
  • OECD releases Consultation Document on 2020 review of BEPS Action 14
  • OECD releases 2019 mutual agreement procedure statistics, 2019 mutual agreement procedure awards
  • OECD releases report on taxing virtual currencies


Washington Dispatch for November 2020