March 8, 2024 2024-0555 Washington Dispatch for February 2024 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: OECD developments - OECD releases final guidance on BEPS Pillar One Amount B on baseline distribution
IRS news - Finalization of proposed FX regulations expected by year end, two sets of proposed Section 367 regs in first half of 2024
- US Senate approves IRS Chief Counsel nomination
Transfer pricing news - IRS sending out more letters regarding transfer pricing compliance
More OECD news - OECD releases 2024 update on peer reviews under BEPS Action 5 on harmful tax practices
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