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August 4, 2023

Washington Dispatch for July 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:

US Congress

  • Congressional Republicans criticize BEPS 2.0 project
  • Senate moves on US-Taiwan tax relations
  • Congress pivots to crypto assets, requests comments on tax uncertainties

Treasury and IRS news

  • Treasury temporarily delays controversial foreign tax credit regulations
  • IRS makes permanent fast-track program to resolve certain corporate PLR requests

OECD developments

  • OECD/G20 Inclusive Framework releases technical documents on BEPS Pillars One and Two
  • OECD releases Outcome Statement on progress on Pillars One and Two of BEPS 2.0 project
  • OECD Secretary-General Tax Report provides international tax update
  • OECD releases 2023 report on tax transparency in Latin America


Washington Dispatch for July 2023