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October 5, 2023

Washington Dispatch for September 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:


  • Senate Finance Committee approves US-Taiwan tax bill
  • House Republicans want countries to delay BEPS Pillar Two, adopt GILTI-like regime

IRS news

  • IRS publishes additional interim guidance clarifying CAMT
  • IRS announces intent to issue proposed regulations for Section 174, would affect cost sharing arrangements
  • US Government considering extension of temporary FTC relief, guidance on taxes paid under BEPS Pillar Two
  • IRS official offers international regulatory update
  • 2024 CAP program accepting new applications
  • IRS announces major new compliance initiative targeting large partnerships


Washington Dispatch for September 2023