October 5, 2023 2023-1656 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: Legislation - 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
——————————————— ATTACHMENT Washington Dispatch for September 2023
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