December 7, 2021 2021-2206 Washington Dispatch for November 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 - House passes Build Back Better Act budget reconciliation bill; action moves to Senate
- President Biden signs infrastructure legislation including new cryptocurrency reporting
IRS news - Final FTC regs expected by year-end, PTEP regs in 2022
- New IRS tool supports withholding agents’ compliance with Form 1042-S
- OECD remains committed to BEPS Pillars in effect by end of 2023
Digital Taxation - US, Turkey announce joint statement on unilateral digital tax compromise
- India, US agree on transitional approach for 2% Equalization Levy prior to implementation of Pillar One rule
OECD news - OECD releases 2020 MAP statistics and awards
——————————————— ATTACHMENT Washington Dispatch for November 2021
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