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March 5, 2021
2021-0487

Washington Dispatch for February 2021

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:

Legislation

  • Congress poised to enact $1.9t COVID-relief bill with repeal of worldwide interest expense allocation – but what’s next?

Transfer pricing news

  • Treasury to consider reviving expired transfer pricing aggregation regulations
  • IRS continues APA/MAP case closures despite COVID restrictions

OECD developments

  • OECD Forum on Tax Administration releases new handbook for International Compliance Assurance Programme (ICAP)
  • OECD holds public consultation on review of minimum standard on dispute resolution under BEPS Action 14
  • OECD releases 10th batch of peer review reports on BEPS Action 14 related to improving dispute resolution

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ATTACHMENT

Washington Dispatch for February 2021

 

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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