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July 8, 2024

Americas Tax Roundup | 8 July 2024


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


     This week's tax news from the Americas

  • Argentine Congress approves bills that include major tax measures
    The House of Representatives gave final approval on 27 June 2024 to the Law of Bases and Starting Points for the Argentine's Freedom ("Ley de Bases y Puntos de Partida para la Libertad de los Argentinos") and to the Fiscal Package Law ("Ley de Medidas Fiscales Paliativas y Relevantes"). Prior versions of both bills had already been approved by the House of Representatives, but the Senate subsequently introduced certain changes and the amended bills had to return to the Lower House for final approval.
  • US Treasury suspends key provisions of US-Russia Tax Treaty and Protocol, effective 16 August 2024
    In Announcement 2024-26 (Announcement), issued on 21 June 2024, the Internal Revenue Service (IRS) announced that the United States (US) provided, on 17 June 2024, formal notice to the Russian Federation (Russia) to confirm the suspension of specific provisions of the US-Russia Tax Treaty (signed on 17 June 1992) (Treaty), along with the suspension of its accompanying protocol (Protocol), by mutual agreement. The Announcement indicates that the suspension of these provisions will be effective on 16 August 2024 for taxes withheld at source and for other taxes; the suspension will continue until otherwise decided by the two governments. The US Treasury had previously announced the suspension of exchange of tax information with Russia on 5 April 2022.
  • OECD and country officials discuss BEPS 2.0 Pillars One and Two and other tax work
    The OECD held its annual tax conference in Washington, DC, on 24-25 June 2024. The bulk of the discussion at the conference focused on developments with respect to BEPS 2.0 Pillars One and Two project. In addition, there were sessions covering the OECD's work on global mobility of workers, tax administration and tax certainty.

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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.