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November 4, 2022
2022-1663

Washington Dispatch for October 2022

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

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Washington Dispatch for October 2022

 

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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