October 27, 2023 U.S. Tax This Week for October 27 Ernst & Young's U.S. Tax This Week newsletter for the week ending October 27 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.
————————————————————————— Tax M&A Update for September 2023 QUEST Economic Update highlights key US and global economic trends - October 20, 2023 ————————————————————————— Crypto and digital asset information reporting: Navigating the operational challenges of the recently proposed regulations (November 1) Realizing the full potential of your tax and finance function: Insights and leading practices for financial services institutions (November 7) Tax considerations for asset managers and their families: The individual year-end tax matters you need to know (November 9) International tax talk quarterly series with the EY Global Tax Desk Network (November 14) Tax in a time of transition: Legislative, economic, regulatory and IRS developments (November 17) ————————————————————————— Internal Revenue Service — Oct 20: IRS incorporates temporary e-signature rules into Internal Revenue Manual (Tax Alert 2023-1759) International — Oct 27: Hong Kong Chief Executive announces several upcoming immigration changes (Tax Alert 2023-1794) — Oct 27: Germany to lower reporting thresholds for energy and electricity tax subsidies (Tax Alert 2023-1792) — Oct 27: Chilean Congress asked to approve double tax treaty with United States (Tax Alert 2023-1791) — Oct 26: India resumes processing Business and Conference Visa applications from Canadian nationals (Tax Alert 2023-1785) — Oct 26: Canada launches pilot program to streamline work permit processing for Canadian employers recruiting in the Philippines (Tax Alert 2023-1783) — Oct 26: Canadian High Commission provides update on visa processing delays in India (Tax Alert 2023-1784) — Oct 26: Turkiye increases additional customs duty rates on textile industry (Tax Alert 2023-1779) — Oct 25: India's Supreme Court rules 'notification' mandatory to invoke Most Favored Nations clause in India's tax treaties (Tax Alert 2023-1776) — Oct 24: UK announces increase in Immigration Health Surcharge expected to go into effect on 16 January 2024 (Tax Alert 2023-1769) — Oct 24: Italy publishes work permit quotas for 2023 until 2025 (Tax Alert 2023-1768) — Oct 24: Ethiopia issues a Directive to regulate the opening and operations of offshore foreign-exchange accounts (Tax Alert 2023-1766) — Oct 24: EU adopts Directive introducing tax transparency rules for crypto assets (DAC8) (Tax Alert 2023-1765) — Oct 20: U.S. Department of Homeland Security announces commencement of visa-free travel for Israelis (Tax Alert 2023-1758) — Oct 20: Qatar removed from EU ‘grey list’ (Tax Alert 2023-1755) — Oct 20: Colombia introduces new citizenship regulations (Tax Alert 2023-1754) — Oct 20: Mauritian Finance Minister issues new regulations on e-invoicing (Tax Alert 2023-1752) — Oct 20: OECD Forum on Tax Administration agrees on action to support continued digital transformation, delivering Pillar Two and capacity building (Tax Alert 2023-1751) Legislation — Oct 25: What to expect in Washington (October 27) (Tax Alert 2023-1793) States — Oct 25: New Mexico tax department proposes rules clarifying when receipts from digital advertising services are taxable (Tax Alert 2023-1796) — Oct 25: Minnesota law prohibits inquiries into applicants' pay history starting in 2024 (Tax Alert 2023-1774) — Oct 24: Maryland provides guidance for on-demand pay products (Tax Alert 2023-1767) ————————————————————————— State and Local Tax Weekly Highlights of this edition include: — Massachusetts governor signs bill that adopts single sales factor apportionment, reduces short-term capital gains tax rate, makes other tax changes On Oct. 4, 2023, Massachusetts Governor Maura Healey signed into law H. 4104, a $951 million tax package containing various tax changes affecting businesses and individuals. — North Carolina budget bill includes various business and individual tax changes North Carolina's budget bill, HB 259, which includes business and individual tax changes, became law without the governor's signature on Oct. 3, 2023. — Income/Franchise, Sales & Use, Business Incentives, Property Tax, Controversy, Payroll & Employment Tax, Miscellaneous Tax, Unclaimed Property, Value Added Tax, Unclaimed Property 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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