February 12, 2023 U.S. International Tax This Week for February 10 Ernst & Young's U.S. International Tax This Week newsletter for the week ending February 10 is now available. Prepared by Ernst & Young's International Tax Services group, this weekly update summarizes important news, cases, and other developments in international taxation.
————————————————————————— Tax in a time of transition: legislative, economic, regulatory and IRS developments (February 17) ————————————————————————— United States — 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) Asia — Feb 07: Malaysia to imposes sales tax on imports of low value goods from 1 April 2023 (Tax Alert 2023-0232) — 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: Indonesia mandates local counterpart training certificates for work permit renewal (Tax Alert 2023-0209) Canada & Latin America — 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 02: Costa Rican Tax Authority publishes Institutional Criterion regarding tax treatment of foreign exchange in financial investment instruments (Tax Alert 2023-0200) — Feb 02: EY Canada's Tax Matters @ EY for February 2023 (Tax Alert 2023-0197) Europe — Feb 09: Italy approves Budget Law for 2023 (Tax Alert 2023-0248) — 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 07: European Commission publishes proposal for a "Green Deal Industrial Plan for the Net-Zero Age" (Tax Alert 2023-0229) — Feb 07: European Union delays the launch of Entry and Exit System (EES) until late 2023 (Tax Alert 2023-0226) — Feb 06: Italy releases work quotas and now requires labor office confirmation to hire foreign employees (Tax Alert 2023-0210) — Feb 06: Switzerland relaxes rules for hiring highly skilled non-EEA nationals (Tax Alert 2023-0208) Middle East — Feb 09: Qatar announces new insurance requirement for visitors and extension of Hayya Cards (Tax Alert 2023-0246) — Feb 07: Turkey announces customs exemption regarding aid materials sent from abroad in response to recent earthquakes (Tax Alert 2023-0230) — 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: Israeli Supreme Court rules in favor of taxpayer for recovering input VAT on certain meal-related expenses (Tax Alert 2023-0222) Multinational — Feb 09: OECD's Pillar Two Administrative Guidance raises implications for US multinationals (Tax Alert 2023-0254) — Feb 09: PE Watch | Latest developments and trends, February 2023 (Tax Alert 2023-0247) — Feb 08: PE Watch | 2022 in review (Tax Alert 2023-0234) — 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: OECD releases Pillar Two guidance (Tax Alert 2023-0199) ————————————————————————— ITS/Washington Dispatch US Congress
Treasury and IRS news
Transfer pricing
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————————————————————————— EY’s Tax News Update, the leading source for news, analysis, and reference materials for corporate tax professionals, has a variety of content of interest to international tax practitioners, including: EY’s Tax and Law Guides. — Tax and Law Guides | EY - Global is your guide to planning ventures in the global economy, offering a wealth of tax and business knowledge on more than 150 countries. Because the matters covered herein are complicated, U.S. International 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. | |||||||