October 17, 2021 U.S. Tax This Week for October 15 Ernst & Young's U.S. Tax This Week newsletter for the week ending October 15 is now available. Prepared by Ernst & Young's National Tax Department in Washington, D.C., this weekly update summarizes important news, cases, and other developments in U.S. taxation.
————————————————————————— How leaning into transfer pricing transformation helps manage tax risk EY publication highlights 2021 Q3 tax policy developments across the Americas ————————————————————————— PE and Private Company quarterly tax webcast (October 21) Examining the MTC’s revised statement on P.L. 86-272: Updates, impact and considerations (October 21) Tax in the time of COVID-19: update on legislative, economic, regulatory and IRS developments (October 22) BEPS 2.0: Beyond 2021 (October 28) BorderCrossings . . . With EY transfer pricing and tax professionals (October 28) The indirect tax technology journey: Now. Next. Beyond (November 3) ————————————————————————— Internal Revenue Service — Oct 14: IRS representatives say MAP and APMA cases are more difficult because of high adjustments, express concern about unilateral relief (Tax Alert 2021-1872) — Oct 13: IRS maintaining its policy on telescoping while trying to alleviate administrative burden, official says (Tax Alert 2021-1856) — Oct 12: IRS will delay foreign currency guidance applicability dates for one more year (Tax Alert 2021-1849) International — Oct 14: Uruguay establishes application date for tax exemptions for leasing social interest housing (Tax Alert 2021-1870) — Oct 14: Kenya Revenue Authority issues guidelines on implementation of Value Added Tax (Electronic Tax Invoice) Regulations, 2020 (Tax Alert 2021-1868) — Oct 14: Ireland announces Budget 2022 (Tax Alert 2021-1867) — Oct 14: Canada announces it will enact Digital Services Tax but says implementation is conditional (Tax Alert 2021-1864) — Oct 14: Luxembourg’s Reverse Hybrid Entity Rule effective as from tax year 2022 (Tax Alert 2021-1863) — Oct 14: PE Watch | Latest developments and trends, October 2021 (Tax Alert 2021-1862) — Oct 13: Poland announces new, more lenient entry rules for certain business visitors and Turkish citizens (Tax Alert 2021-1859) — Oct 13: Australia is reforming skilled migration as border restrictions ease (Tax Alert 2021-1852) — Oct 13: Cyprus Tax Authority issues clarification regarding Competent Authority Agreement with the United States for exchange of CbC reports (Tax Alert 2021-1850) — Oct 11: General Directorate of Internal Taxes of Dominican Republic establishes payment programs for unpaid tax liabilities (Tax Alert 2021-1847) — Oct 12: Denmark publishes bill relaxing transfer pricing documentation requirements in relation to domestic controlled transactions (Tax Alert 2021-1845) — Oct 12: CJEU issues final decision confirming characterization of the Spanish tax amortization regime for financial goodwill as State aid (Tax Alert 2021-1844) — Oct 11: OECD releases statement updating July conceptual agreement on BEPS 2.0 project (Tax Alert 2021-1840) — Oct 08: 136 Inclusive Framework countries support global tax agreement (Tax Alert 2021-1839) — Oct 08: French Government clarifies new requirement for transmission of electronic invoicing and payment data as from 1 July 2024 (Tax Alert 2021-1835) — Oct 08: Update provided on entry restriction to Indonesia and international travel health protocol for foreigners (Tax Alert 2021-1834) — Oct 08: Jordan issues transfer pricing instructions (Tax Alert 2021-1831) — Oct 08: Ireland joins consensus on G20/OECD International Tax Proposals (Tax Alert 2021-1830) Legislation — Oct 14: House Ways & Means reconciliation bill proposes important credits and incentives that would encourage investment in Puerto Rico (Tax Alert 2021-1866) — Oct 14: Social Security wage base to increase in 2022 (Tax Alert 2021-1865) — Oct 13: What to expect in Washington (October 13) (Tax Alert 2021-1855) States — Oct 13: Texas adopts amendments to its franchise tax rule for research and development activities credits (Tax Alert 2021-1860) — Oct 13: New York State extends certain October 15 deadlines for taxpayers affected by post-tropical depression Ida, excludes 2021 election for NY pass-through entity tax from relief (Tax Alert 2021-1858) — Oct 13: California state requirement for supplemental paid sick leave expired September 30, 2021; some local ordinances continue to apply (Tax Alert 2021-1857) — Oct 12: Vermont employers must apply by October 31, 2021 for relief of COVID-19 UI benefit charges in the computation of their SUI tax rates (Tax Alert 2021-1848) — Oct 11: New York legislation would relieve employers of paying SUI assessment for the repayment of interest on the state's federal unemployment insurance loan balance (Tax Alert 2021-1846) ————————————————————————— ITS/Washington Dispatch Highlights of this edition include: Legislation
Treasury and IRS news
OECD Developments
————————————————————————— Notices
Internal Revenue Bulletin
Because the matters covered herein are complicated, U.S. Tax This Week should not be regarded as offering a complete explanation and should not be used for making decisions. Any decision concerning matters covered herein should be reviewed with a qualified tax advisor. | |||||||||||||