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

• Proposed FTC regs release expected soon, PTEP regs in first half of 2023
• Treasury official says proposed crypto regs coming before year end

Transfer pricing news

• IRS may be more selective on APAs given availability of ICAP in transfer pricing disputes
• IRS to reconsider APA revenue procedure guidance

Tax treaty news

• Treasury developing measures for future treaties to address new tax regimes, new US-Croatia treaty before year end

OECD developments

• G20 Finance Ministers welcomed progress made on BEPS 2.0, called for swift implementation
• OECD releases public consultation document on administration and tax certainty aspects of Amount A of Pillar One
• OECD releases report on interaction of Tax Incentives and Pillar Two
• OECD/G20 Inclusive Framework held 14th plenary meeting and published 6th annual progress report

———————————————
ATTACHMENT

Washington Dispatch for October 2022