EY Cross-Border Taxation Alerts

A review of the week's major US international tax-related news. In this edition: Senate Budget Committee Democrats agree on $3.5 trillion budget resolution, paving way for "human infrastructure" paid for with tax increases – Bipartisan $1 trillion infrastructure negotiators given 21 July deadline – Biden Administration wants global minimum tax in budget reconciliation package; Pillar Two elements...

A review of the week's major US international tax-related news. In this edition: OECD announces conceptual agreement in BEPS 2.0 project – IRS issues early draft instructions for amended Schedules K-2 and K-3 for 2021 Forms 1065, 1120-S, and 8865.

A review of the week's major US international tax-related news. In this edition: White House, bipartisan senators agree to infrastructure deal – OECD publishes Model Reporting Rules for Digital Platforms: International Exchange Framework.

A review of the week's major US international tax-related news. In this edition: More US Senators publicly support $1.2 trillion bipartisan infrastructure compromise – House passes corporate disclosure package requiring country-by-country tax reporting for multinationals.

A review of the week's major US international tax-related news. In this edition: Bipartisan US Senate group proposes $1.2 trillion infrastructure package – G7 Finance Ministers express strong support for ongoing work on OECD BEPS 2.0 project – Biden Administration's proposed 15% minimum tax on book earnings could include public disclosure of book-tax differences – IRS announces deferral of applica...

A review of the week's major US international tax-related news. In this edition: US Treasury 'Green Book' details Biden Administration's international tax proposals – President Biden, Senate Republicans continue infrastructure talks – USTR announces and suspends tariffs over digital services taxes – G-7 officials begin meeting; expected to pledge support for BEPS 2.0 talks.

A review of the week's major US international tax-related news. In this edition: US Senate Finance Committee hearing discusses US international tax proposals – Biden Administration, Senate Republicans trading infrastructure proposals.

A review of the week's major US international tax-related news. In this edition: US Senate Finance Committee hearing on infrastructure highlights differences regarding scope and pay-fors – US Treasury proposes 15% global minimum corporate tax rate – IRS official discusses application of US treaties' derivative benefits test post-Brexit – OECD Multilateral Instrument Conference of the Parties issue...

A review of the week's major US international tax-related news. In this edition: Biden Administration, Congressional Republicans show some willingness to compromise on infrastructure package – Treasury Green Book detailing President Biden's tax proposals to be released end of May – House Financial Services Committee reports out CbC financial reporting bill, including taxes – IRS modifies accountin...

A review of the week's major US international tax-related news. In this edition: US Congress, Biden Administration focused on infrastructure plans, proposed tax increases – IRS releases updated early drafts of new Schedules K-2 and K-3, for Forms 1065, 1120-S, and 8865, for 2021 tax year – OECD considering framework for elimination of unilateral DSTs post-BEPS 2.0 agreement – OECD cryptoasset proj...

A review of the week's major US international tax-related news. In this edition: US President Joe Biden addresses joint session of Congress, makes case for multi-trillion dollar American Jobs Plan and American Families Plan – Treasury details plan to direct $80 billion to IRS over next 10 years – PTEP proposed regulations now expected to be released in multiple installments, beginning late summer,...

A review of the week's major US international tax-related news. In this edition: President Biden to address joint session of Congress; will pitch infrastructure and American Families Plan proposals – Senate Finance Committee Chairman reintroduces Clean Energy for America Act – UN tax committee approves new digital taxation article for UN Model Treaty.

A review of the week's major US international tax-related news. In this edition: President Biden begins outreach on $2.2 trillion American Jobs Plan – IRS issues proposed regs on foreign investment in Opportunity Zone funds – IRS issues FAQs on International Compliance Assurance Program (ICAP) – EY submits comments on EU Public Consultation on digital levy.

A review of the week's major US international tax-related news. In this edition: US Treasury releases report on Biden Administration's Made in America Tax Plan – US Senate Finance Committee Chairman releases framework for international taxation – US presents OECD BEPS 2.0 Pillar One proposal to steering group of Inclusive Framework on BEPS – UN Tax Subcommittee releases final draft of new digital...

A review of the week's major US international tax-related news. In this edition: President Biden unveils $2 trillion infrastructure plan to be paid for with higher CIT rate, international tax changes – US, Japan reach agreement on tax treaty arbitration process – IRS APMA Program releases annual APA update – US Trade Representative proposes 25% punitive tariffs on Austria, India, Italy, Spain, Tur...

A review of the week's major US international tax-related news. In this edition: US Senate Finance Committee holds hearing on international taxation – US, 18 other jurisdictions to participate in OECD ICAP – IRS releases practice unit on Section 965 transition tax. .

A review of the week's major US international tax-related news. In this edition: Biden Administration begins to float tax proposals – Senate Finance Committee holds hearings on various aspects of US Tax Code – House, Senate Democrats release international tax bills – IRS official offers international tax guidance update – IRS updates FATCA FAQs.

A review of the week's major US international tax-related news. In this edition: US enacts $1.9 trillion COVID-19 stimulus legislation, including repeal of worldwide interest expense allocation election – IRS Office of Fraud Enforcement initiative to focus on virtual currency – IRS Advance Pricing and Mutual Agreement Program seeing questionable treatment of COVID-related costs – OECD official see...

A review of the week's major US international tax-related news. In this edition: US Senate considers $1.9 trillion COVID relief package – US Treasury Secretary takes Pillar 1 safe harbor off table in BEPS 2.0 talks – Murillo named Treasury Deputy Assistant Secretary for International Tax Affairs.

A review of the week's major US international tax-related news. In this edition: US House of Representatives to vote on $1.9 trillion COVID-19 stimulus/relief package on 26 February, action next moves to Senate – US Treasury nominee says goal in BEPS 2.0 talks is to protect US tax revenue and ensure a level playing field.

A review of the week's major US international tax-related news. In this edition: US Congressional tax leader says no consensus on international tax changes – " Platform for Collaboration on Tax" releases toolkit to help developing countries with effective transfer pricing documentation requirements – OECD Forum on Tax Administration releases new handbook for International Compliance Assurance Prog...

A review of the week's major US international tax-related news. In this edition: US House tax-writing committee approves package representing half of $1.9 trillion COVID relief plan, including international tax provision – Treasury may open project to revive transfer pricing aggregation regulations .

A review of the week's major US international tax-related news. In this edition: US Congress may address international tax regime in 2021, Senate aide says – US, Argentina sign agreement to share CbC reports – OECD holds public consultation on BEPS Action 14 dispute resolution –  Final draft of 'Platform for Collaboration on Tax' to be released in Q1 2021.

A review of the week's major US international tax-related news. In this edition: New US Treasury Secretary commits to OECD BEPS 2.0 discussions – OECD releases guidance on COVID-19 related tax treaty issues.

A review of the week's major US international tax-related news. In this edition: President Biden inaugurated as US president; Treasury-designate Janet Yellen confirms tax increases to be delayed – US to re-engage in OECD BEPS 2.0 negotiations.