Tax News

The United States Senate could soon approve ratification of four long-pending double tax avoidance treaty protocols.

On July 3, 2019, the Seychelles Government announced that it has signed an intergovernmental agreement with the United States to implement the requirements of the US Foreign Account Tax Compliance Act.

On June 25, 2019, the United States Senate Foreign Relations Committee approved amendments to four double tax avoidance agreements which have been pending in the Senate for several years.

The leaders of the United States Committee on Finance have written Treasury Secretary Steven Mnuchin urging him to use “all tools available” to counter France’s proposed digital services tax, which they argue unfairly discriminates against US companies.

On June 13, 2019, the US Senate approved the Taxpayer First Act, which is intended to overhaul the Internal Revenue Service and strengthen taxpayer rights.

On June 14, 2019, the US Internal Revenue Service announced that
it is looking for new applicants for the Compliance Assurance Process (CAP),
a cooperative compliance program aimed at publicly traded corporate taxpayers.

On June 14, 2019, the US Internal Revenue Service announced that
it is looking for new applicants for the Compliance Assurance Process (CAP),
a cooperative compliance program aimed at publicly traded corporate taxpayers.

The US Internal Revenue Service has directed its transfer pricing examiners to resume reviewing taxpayers’ transfer pricing positions with respect to cost-sharing agreements in certain circumstances.

On June 10, 2019, the United States House of Representatives approved legislation which would reform the rules governing the Internal Revenue Service.

The United States Internal Revenue Service has proposed rules regarding the attribution of ownership of stock or other interests for purposes of determining whether a person is a related person with respect to a controlled foreign corporation (CFC) und…