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| | A weekly summary of the top weekly tax news, trends
and developments in the Americas | |
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| | This week's tax news from the Americas - Canada Department of Finance releases draft legislation for 2024 budget and other measures
In keeping with what has become a summer tradition, Canada’s Department of Finance has released several packages of draft legislative proposals for public comment. The draft legislative proposals, released on 12 August 2024, implement most of the remaining tax measures from the 2024 federal budget (Budget 2024), other previously announced tax measures and various tax technical amendments.
- Argentine Budget and Finance Committee approves Multilateral Instrument
The Argentine Budget and Finance Committee of the Chamber of Deputies approved a bill to ratify the Multilateral Instrument (MLI) to implement Tax-Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (BEPS). Argentina signed the MLI on 7 June 2017, including a provisional list of expected reservations and notifications covering the bilateral tax treaties signed by Argentina.
- OECD releases selection documentation package for MNEs participating in ICAP risk assessments
On 1 August 2024, the Organisation for Economic Co-operation and Development (OECD) Forum on Tax Administration published on their website a list of documentation requirements for the selection stage of the International Compliance Assurance Program (ICAP). The selection stage requires a multinational enterprise (MNE) to provide the following information when it applies to ICAP (i) submission checklist; (ii) MNE group information form; (iii) MNE covered-risk overview; and (iv) MNE group Advance Pricing Agreement details.
- UN Ad Hoc Committee advances Terms of Reference for a Framework Convention on International Tax Cooperation
On 16 August 2024, the United Nations (UN) Ad Hoc Committee voted to approve Terms of Reference (ToR) for the development of a UN Framework Convention on International Tax Cooperation (the Framework Convention). The ToR provide that the Framework Convention should encompass structural elements, such as a clear statement of objectives, principles, and commitments to achieving the objectives. The ToR will be presented to the UN General Assembly for vote during its 79th session in New York, which begins in September 2024. If adopted, the ToR provide for the Framework Convention to be developed by 2027.
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| | This week's newsletters | | |
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| | Upcoming EY webcasts A calendar of all upcoming EY webcasts is available. | | |
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| | Recent EY podcasts All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts. | | |
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| | This week's EY Global Tax Alerts Americas Africa Asia Europe | | |
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| | Additional resources EY Global Tax News Update
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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. | |
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