EY Cross-Border Taxation Alerts

A review of the week's major US international tax-related news. In this edition: IRS announces filing exemption for US persons holding PFIC stock through exempt orgs / accounts -- Immediate action for Mexican IMMEX/maquiladora companies.

China and Germany on 28 March 2014 signed a new income tax treaty and protocol; it will become effective on or after 1 January following the year in which the new treaty enters into force.

A review of the week's major US international tax-related news. In this edition: House Ways and Means Committee hearing reviews tax extenders -- Official offers US perspective on OECD BEPS action items,

A review of the week's major US international tax-related news. In this edition: Senate Finance Committee approves tax extenders legislation -- House Budget Committee Chairman releases FY 2015 Budget Resolution -- IRS Announcement 2014-17 offers FATCA relief -- Senate Foreign Relations Committee reports five pending tax agreements out of committee -- OECD tentatively decides to make simplification...

A review of the week's major US international tax-related news. In this edition: Senate Finance Committee to mark-up tax extenders next week -- OECD issues digital economy discussion draft -- 34 countries commit to early adopt OECD Common Reporting Standard -- IRS says Bitcoin not a "real currency" -- US, HK sign TIEA.

A review of the week's major US international tax-related news. In this edition: Senate Finance Committee to hold mark up of tax extenders package -- OECD releases discussion BEPS drafts on treaty abuse and hybrid mismatch arrangements - UK releases 2014 Budget.

On 12 March 2014, the Italian Government announced that the 20% flat tax currently applicable to dividends, interest, and certain capital gains will increase to 26%.

A review of the week's major US international tax-related news. In this edition: Update on US tax reform, tax extenders - OECD to issue discussion drafts on treaty abuse, digital economy, and hybrid mismatches in coming weeks.

The Italian Government, With Law Decree no. 16 of 6 March 2014, repealed part of the recently introduced tax rules concerning certain Digital Economy activities generally referred to as "Web Tax."

A review of the week's major US international tax-related news. In this edition: President Obama releases FY 2015 Budget -- IRS issues Notice 2014-14, announcing proposed Section 871(m) regulations will not apply to specified equity-linked instruments on 5 March 2014.

A review of the week's major US international tax-related news. In this edition: Ways and Means Committee Chairman releases comprehensive tax reform draft -- Senate Foreign Relations Committee holds treaty hearing -- President Obama to submit FY 2015 Budget Proposal on 4 March -- G20 expresses full support for OECD BEPS.

A review of the week's major US international tax-related news. In this edition: Ways and Means Committee Chairman Dave Camp poised to release comprehensive tax reform draft -- US Senate Foreign Relations Committee to hold long-awaited tax treaty hearing -- IRS issues final FATCA guidance.

On 11 February 2014, the Canadian government released the 2014 Federal Budget.

A review of the week's major US international tax-related news. In this edition: Chairman Camp expected to release comprehensive tax reform proposal before end of February -- Congress passes "clean" debt ceiling increase -- OECD releases "Standard for Automatic Exchange of Financial Account Information" -- IRS releases transfer pricing audit roadmap -- Canada issues 2014-2015 Federal Budget.

The US and Canada on 5 February 2014 signed an Intergovernmental Agreement (IGA) regarding the enhanced exchange of tax information in connection with the Foreign Account Tax Compliance Act (FATCA).

A review of the week's major US international tax-related news. In this edition: Future of US tax reform and tax extenders under a new Senate Finance Committee Chairman -- Prediction that US international tax reform will move forward in 2014 -- US signs FATCA IGAs with Canada, Hungary -- US debt limit reached 7 February -- EY to host webcast on OECD BEPS on 18 February.

A review of the week's major US international tax-related news. In this edition: President Obama to deliver State of the Union 28 January -- Treasury Secretary issues warning on debt limit -- Tax extenders legislative may be a possibility -- OECD hosts webcast on BEPS; digital economy focus not abandoned.

The Canadian government on 17 January 2014 launched a new Offshore Tax Informant Program targeting offshore tax evasion.

A review of the week's major US international tax-related news. In this edition: Congress Congress approves "omnibus" spending bill -- IRS issues temporary inversion regulations US, Italy sign FATCA Model 1 IGA.

The Colombian government recently issued two tax-related decrees that may have an impact on multinational companies investing in Colombia.

A review of the week's major US international tax-related news. In this edition: Congress back in session -- status of tax reform and tax extenders

A review of the week's major US international tax-related news. In this edition: IRS issues temporary and proposed PFIC reporting regulations -- Congress to reconvene second sesssion of 113th Congress -- Two international tax extenders expired on New Year's Eve.

A review of the week's major US international tax-related news. In this edition: IRS releases final FACTA foreign financial institution agreement in Rev. Proc. 2014-10 -- President Obama signs Bipartisan Budget Act of 2013-- Finance Committee Chairman Max Baucus formally nominated to be next US ambassador to China.

A review of the week's major US international tax-related news. In this edition: Senate passes Bipartisan Budget Act of 2013-- W&M Chairman opposes increase in capital gains rate -- Finance Committee Chairman to be named next US ambassador to China -- No tax extenders legislation this year -- US signs 6 FATCA IGAs.

On 11 December 2013, the final components of Mexico's 2014 tax reform were published in the Official Gazette, after having been signed by President Peña Nieto on 6 December 2013.