A weekly summary of the top weekly tax news, trends
and developments in the Americas

     This week's tax news from the Americas

• Brazilian Provisional Measure aims to constrain monetization of VAT credits
  In a Provisional Measure, Brazil introduced significant constraints for Brazilian taxpayers seeking to monetize value-added tax (VAT) credits. The Provisional Measure only allows taxpayers to use VAT credits to offset their PIS/COFINS (Program of Social Integration/Contribution for the Financing of Social Security) liability.

• OECD releases updated FAQs for MNEs participating in ICAP risk assessments
  The OECD Forum on Tax Administration released updated frequently-asked-questions-and-answers (FAQs) on participating in the International Compliance Assurance Program (ICAP). The updated FAQs clarify, among other things, how multinational enterprises (MNEs) can use surrogate lead tax administrations from different jurisdictions, how ICAP can be applied on a segment of an MNE group and the availability of ICAP to taxpayers below the country-by-country-reporting threshold.

     This week's newsletters

• Report on recent US international tax developments - 14 June 2024
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.
• PE Watch | Latest developments and trends, June 2024
  EY's monthly report with brief summaries of the latest permanent establishment activity and trends.
• TaxMatters@EY – June 2024
  TaxMatters@EY, a monthly Canadian summary to help you get up to date on recent tax news, case developments, publications and more.

     This week's tax treaty news from the Americas

• Argentina and Tunisia: mutual interest in concluding the negotiations for a tax treaty renewed
• Canada and Ecuador: second round of negotiations for a free trade agreement held
• Chile and Paraguay: free trade agreement entered into force

     Upcoming EY webcasts

• 18 June: Charging ahead: four factors to guide investment in battery storage
• 19 June: How to manage emerging views on risk and control in transfer pricing
• 19 June: Global Integrity Report 2024: How can trust survive without integrity?
• 21 June: Tax in a time of transition: legislative, economic, regulatory and IRS developments - June 2024
• 25 June: What Q2 IFRS Quarterly Tax Developments could impact tax accounting
• 26 June: What to know about Regional Treasury Centers
• 27 June: How to prepare for the first pillar of ViDA and global e-invoicing

     Recently archived webcasts

• 13 June: BEPS 2.0: what to explore with the ongoing activity on Pillars One and Two

A calendar of all upcoming EY webcasts is available.

     Recent EY podcasts

• EY Podcast: Weekly US international cross-border taxation news for week ending 14 June 2024

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

      This week's EY Global Tax Alerts

     Asia

• Indonesia expands immigration compliance checks of foreign residents and visitors

     Europe

• Denmark approves new education-related residence scheme
• Estonia approves revised fees for several immigration services
• European Parliament enacts into law first rules to reduce global methane emissions
• France expects delays in immigration application processing due to the upcoming Olympic Games
• Portugal announces new action plan for Migration approved by the Council of Ministers
• UK releases new operational guidance on effective risk management in transfer pricing transactions

     Middle East

• UAE introduces new long-term residency visa for individuals with proven credentials in environmental work

Additional resources

Comments. If you have any questions or suggestions about this newsletter, please email Global Tax News Update Help at: globaltaxnewsupdatehelp@ey.com.

About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Brittenham, writer and editor

Distributed weekly to all Americas Tax personnel.