June 1, 2023 U.S. Tax This Week for June 2 Ernst & Young's U.S. Tax This Week newsletter for the week ending June 2 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.
————————————————————————— Domestic tax quarterly webcast series: A focus on state tax matters (June 7) BEPS 2.0: Pillar Two implementation and practical considerations (June 7) Private equity and private capital quarterly tax webcast (June 8) How to understand the new class of tax authority governance programs in Americas (June 14) Tax in a time of transition: Legislative, economic, regulatory and IRS developments (June 16) Accounting for income taxes: A quarterly perspective (June 20) Finance and treasury: How to navigate the changing global tax landscape (June 28) ————————————————————————— Internal Revenue Service — May 25: IRS officials highlight latest transfer pricing developments (Tax Alert 2023-0951) International — Jun 01: Brazil adopts new rule on individual taxation of financial investments, controlled entities and trusts held abroad (Tax Alert 2023-0982) — Jun 01: Denmark expands tax liability scope to include activities carried out in the Exclusive Economic Zone (Tax Alert 2023-0980) — Jun 01: Dominican Republic Executive Branch enacts law implementing mandatory electronic invoicing (Tax Alert 2023-0976) — Jun 01: EY Canada's Tax Matters @ EY for June 2023 (Tax Alert 2023-0975) — Jun 01: UK announces changes to the Youth Mobility Scheme (Tax Alert 2023-0974) — May 31: The Netherlands issues proposed Pillar Two legislation (Tax Alert 2023-0972) — May 31: UAE issues update to the mandatory unemployment insurance program (Tax Alert 2023-0971) — May 31: UK/Australia and New Zealand Free Trade Agreements enter into force (Tax Alert 2023-0970) — May 31: Canada | Prince Edward Island budget 2023-24 (Tax Alert 2023-0969) — May 31: Saudi Arabia clarifies interpretation of service-PE provisions in its tax treaties (Tax Alert 2023-0967) — May 31: Turkey extends the deadline for tax amnesty application (Tax Alert 2023-0966) — May 30: Saudi Arabia announces fifth wave of Phase 2 e-invoicing integration (Tax Alert 2023-0959) — May 30: Costa Rican Executive Branch files comprehensive tax reform bills (Tax Alert 2023-0957) — May 30: Chile | New mining royalty is approved and ready to become law (Tax Alert 2023-0956) — May 25: Nigeria | Highlights of the Business Facilitation (Miscellaneous Provisions) Act (Tax Alert 2023-0950) — May 25: Switzerland opens public consultation on procedural aspects of the OECD's Pillar Two minimum corporate tax (Tax Alert 2023-0949) — May 25: United States | IRS GLAM concludes that the regularly-traded-stock-exception test under IRC Section 897(c)(3) applies at partnership level (Tax Alert 2023-0947) — May 25: Puerto Rico's Treasury Secretary announces sales and use tax holiday for hurricane-season purchases will take place from May 26-May 28, 2023 (Tax Alert 2023-0946) — May 25: Australian Taxation Office issues second draft of compliance guidelines on intangibles arrangements (Tax Alert 2023-0942) — May 25: New Zealand to adopt the OECD GloBE (Pillar Two) rules (Tax Alert 2023-0941) Legislation — Jun 01: House passes Fiscal Responsibility Act, 314-117 (Tax Alert 2023-0979) — May 31: What to expect in Washington (May 31) (Tax Alert 2023-0963) — May 25: Ways & Means Republicans introduce tax increase on foreign companies to "combat" global tax deal (Tax Alert 2023-0948) States — Jun 01: Indiana law lowers personal income tax rates gradually starting in 2024; exemption for dependent children is modified retroactive to January 1, 2023 (Tax Alert 2023-0981) — May 31: Bloomington, Minnesota requires earned sick and safe leave effective July 1, 2023 (Tax Alert 2023-0968) — May 30: Minnesota enacts new retail delivery fee set to take effect in July 2024 (Tax Alert 2023-0962) — May 30: Minnesota omnibus tax legislation includes increased taxes on corporations and individuals (Tax Alert 2023-0961) — May 30: Payroll Month in Review | May 2023 (Tax Alert 2023-0960) ————————————————————————— Proposed Regulations
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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