April 6, 2023 2023-0672 Washington Dispatch for March 2023 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 - President Biden releases FY’24 Budget with major international policy proposals
Treasury and IRS news - US officials offer insights on major pending international regulatory projects
- Turkish Lira’s hyperinflationary status has federal tax implications for US multinationals
- IRS announces plans to issue guidance on certain NFTs as collectibles
Transfer pricing - IRS planning new APA process
- IRS considering Section 482 regulation for parent’s implicit support in pricing intercompany loans
OECD developments - OECD holds public consultation meeting on compliance and tax certainty aspects of BEPS Pillar Two global minimum tax
——————————————— ATTACHMENT Washington Dispatch for March 2023 
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