June 4, 2023 U.S. International Tax This Week for June 2 Ernst & Young's U.S. International Tax This Week newsletter for the week ending June 2 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.
————————————————————————— BEPS 2.0: Pillar Two implementation and practical considerations (June 7) Private equity and private capital quarterly tax webcast (June 8) Tax in a time of transition: Legislative, economic, regulatory and IRS developments (June 16) Finance and treasury: How to navigate the changing global tax landscape (June 28) ————————————————————————— United States — 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) Africa — May 25: Nigeria | Highlights of the Business Facilitation (Miscellaneous Provisions) Act (Tax Alert 2023-0950) Canada & Latin America — Jun 01: Brazil adopts new rule on individual taxation of financial investments, controlled entities and trusts held abroad (Tax Alert 2023-0982) — 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) — May 31: Canada | Prince Edward Island budget 2023-24 (Tax Alert 2023-0969) — 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) Europe — Jun 01: Denmark expands tax liability scope to include activities carried out in the Exclusive Economic Zone (Tax Alert 2023-0980) — 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 25: Switzerland opens public consultation on procedural aspects of the OECD's Pillar Two minimum corporate tax (Tax Alert 2023-0949) Middle East — May 31: UAE issues update to the mandatory unemployment insurance program (Tax Alert 2023-0971) — 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) Oceana — 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) Multinational — May 31: UK/Australia and New Zealand Free Trade Agreements enter into force (Tax Alert 2023-0970) ————————————————————————— Internal Revenue Bulletin
————————————————————————— 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. | ||||