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March 5, 2021

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:


  • 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



Washington Dispatch for February 2021