US Trade Representative Robert Lighthizer told a congressional hearing on June 17, 2020, that the US Government has withdrawn from international negotiations on new global tax rules for digital companies at the OECD.
On May 15, 2020, the United States House of Representatives approved the HEROES Act, which amends previous COVID-19-related stimulus legislation by changing loss carryback rules and providing further tax support for businesses and individuals.
French Finance Minister Bruno Le Maire has said that the Government intends to introduce a digital services tax this year.
On May 19, 2020, the United States Treasury Department and the Internal Revenue Service issued an Announcement which clarifies the interpretation of references in US income tax treaties to the North American Free Trade Agreement once it is replaced by …
On May 1, 2020, the United States Internal Revenue Service Large Business and International Division announced a new compliance campaign focusing on the 2017 Tax Cuts and Jobs Act and the recently enacted Coronavirus Aid, Relief and Economic Security A…
On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income regime on businesses based in US territories and possessions.
On May 7, 2020, the United States Internal Revenue Service issued a reminder to employers affected by COVID-19 about the tax credits made available to them under the Coronavirus Aid, Relief, and Economic Security Act.
On April 16, 2020, the United States Internal Revenue Service issued a set of frequently asked questions and answers to help inform taxpayers about transfer pricing documentation best practices.
On April 15, 2020, the United States Internal Revenue Service unveiled the “Get My Payment” online tool that will allow taxpayers to receive economic impact payments under the Coronavirus Aid, Relief, and Economic Security Act.
On March 31, 2020, the United States Treasury Department and the Internal Revenue Service launched the Employee Retention Credit scheme, designed to encourage businesses to keep employees on their payroll amid the COVID-19 crisis.