February 12, 2023 U.S. Tax This Week for February 10 Ernst & Young's U.S. Tax This Week newsletter for the week ending February 10 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.
————————————————————————— Tax in a time of transition: legislative, economic, regulatory and IRS developments (February 17) Corporate alternative minimum tax: what the latest interim guidance could mean for companies (February 28) Domestic tax quarterly webcast series: A focus on state tax matters (March 1) ————————————————————————— Internal Revenue Service — Feb 09: IRS plans to update guidance on Advance Pricing Agreements and competent authority assistance (Tax Alert 2023-0252) — Feb 09: IRS modifies definitions to include more vehicles eligible for clean vehicles credit (Tax Alert 2023-0251) — Feb 07: IRS issues guidance on the optional safe harbor accounting method for real estate developers (Tax Alert 2023-0227) — Feb 03: IRS rules that certain office property services and amenities will not result in impermissible tenant service income (Tax Alert 2023-0214) International — Feb 09: OECD's Pillar Two Administrative Guidance raises implications for US multinationals (Tax Alert 2023-0254) — Feb 09: Italy approves Budget Law for 2023 (Tax Alert 2023-0248) — Feb 09: PE Watch | Latest developments and trends, February 2023 (Tax Alert 2023-0247) — Feb 09: Qatar announces new insurance requirement for visitors and extension of Hayya Cards (Tax Alert 2023-0246) — Feb 09: Sweden allows applications from eligible Ukrainian citizens to extend their status under the Temporary Protection Directive (Tax Alert 2023-0245) — Feb 08: Denmark mandates DISCO codes for all residence and work permit applications (Tax Alert 2023-0244) — Feb 08: Poland implements changes to immigration policies impacting citizens of Ukraine and other countries (Tax Alert 2023-0241) — Feb 07: Luxembourg revises salary requirements for certain third-country nationals (Tax Alert 2023-0235) — Feb 08: PE Watch | 2022 in review (Tax Alert 2023-0234) — Feb 07: Malaysia to imposes sales tax on imports of low value goods from 1 April 2023 (Tax Alert 2023-0232) — Feb 07: Turkey announces customs exemption regarding aid materials sent from abroad in response to recent earthquakes (Tax Alert 2023-0230) — Feb 07: European Commission publishes proposal for a "Green Deal Industrial Plan for the Net-Zero Age" (Tax Alert 2023-0229) — Feb 07: Israel's Tax Authority releases new Form 1585 and updates Form 1385 following adoption of BEPS Action 13 principles (Tax Alert 2023-0228) — Feb 07: European Union delays the launch of Entry and Exit System (EES) until late 2023 (Tax Alert 2023-0226) — Feb 07: Panama’s Tax Authority issues a calendar with implementation phases of the electronic invoicing system for operations and services carried out by banks and financial institutions (Tax Alert 2023-0223) — Feb 07: Israeli Supreme Court rules in favor of taxpayer for recovering input VAT on certain meal-related expenses (Tax Alert 2023-0222) — Feb 07: Japan and Switzerland’s updated Double Taxation Agreement has entered into force (Tax Alert 2023-0221) — Feb 06: Mainland China resumes visa issuance and 72/144-hour visa-free transit policy for Japanese nationals (Tax Alert 2023-0219) — Feb 03: India releases Union Budget 2023 (Tax Alert 2023-0211) — Feb 06: Italy releases work quotas and now requires labor office confirmation to hire foreign employees (Tax Alert 2023-0210) — Feb 06: Indonesia mandates local counterpart training certificates for work permit renewal (Tax Alert 2023-0209) — Feb 06: Switzerland relaxes rules for hiring highly skilled non-EEA nationals (Tax Alert 2023-0208) — Feb 03: OECD/G20 Inclusive Framework releases Administrative Guidance under Pillar Two GloBE rules (Tax Alert 2023-0206) — Feb 02: Accounting for the global minimum tax under the OECD's Pillar Two Global Anti-Base Erosion model rules (Tax Alert 2023-0201) — Feb 02: Costa Rican Tax Authority publishes Institutional Criterion regarding tax treatment of foreign exchange in financial investment instruments (Tax Alert 2023-0200) — Feb 02: OECD releases Pillar Two guidance (Tax Alert 2023-0199) — Feb 02: EY Canada's Tax Matters @ EY for February 2023 (Tax Alert 2023-0197) — Feb 02: USCIS to resume bundling adjudication of I-539 and I-765 applications filed by H-4 and L-2 spouses (Tax Alert 2023-0196) — Feb 02: USCIS announces FY 2024 H-1B Cap Registration Period (Tax Alert 2023-0195) Legislation — Feb 08: What to expect in Washington (February 8) (Tax Alert 2023-0239) — Feb 08: In State of the Union speech, Biden proposes reducing deficit By $2 trillion by closing tax 'loopholes,' other measures (Tax Alert 2023-0238) States — Feb 09: Our US employment tax rates and limits publication for 2023 is now available (Tax Alert 2023-0249) — Feb 07: Massachusetts issues draft technical information release on regulations conforming the tax treatment of certain fringe benefits to the federal Internal Revenue Code (Tax Alert 2023-0236) — Feb 02: Essential guide for correcting 2022 Form W-2 errors is now available (Tax Alert 2023-0194) ————————————————————————— State and Local Tax Weekly — Texas Comptroller adopts amendments to local sales and use tax sourcing rules. The Texas Comptroller of Public Accounts (Comptroller) has adopted amendments to rule 34 TAC Section 3.334 (Section 3.334) regarding local sales and use tax. — Income/Franchise, Sales & Use, Business Incentives, Controversy, Payroll & Employment Tax, Miscellaneous Tax ITS/Washington Dispatch US Congress
Treasury and IRS news
Transfer pricing
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Announcements
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. | ||||||||||||||||
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