EY Cross-Border Taxation Spotlight for Week ending 16 May 2025

A review of the week's major US international tax-related news. In this edition:  US Senate delays consideration of budget reconciliation bill – Treasury Secretary requests Congress pull retaliation tax proposal from pending tax bill – Senate confirms new Treasury Assistant Secretary for Tax Policy – OECD updating portions of Chapter Vll of the Transfer Pricing Guidelines, studying global mobility issues. 

A review of the week's major US international tax-related news. In this edition:  US Senate Finance Committee releases tax section of Senate Republicans’ version of the House budget reconciliation bill; major international changes – IRS announces improvements to Pre-Filing Agreement program. 

A review of the week's major US international tax-related news. In this edition:  US Senate Finance Committee release of tax and health budget reconciliation provisions imminent -- Senate approves new IRS Commissioner – IRS issues interim CAMT guidance – IRS releases Notice on digital asset transactions. 

A review of the week's major US international tax-related news. In this edition:  US Senate moving forward on budget reconciliation legislation – Senate Finance Committee reports out nomination of new IRS Commissioner – President Trump increases tariffs on aluminum and steel imports – Treasury official warns US will act if OECD fails to accept US law as compliant with global minimum tax initiative – OECD releases CRS consolidated text for automatic exchange of financial account information in tax matters. 

A review of the week's major US international tax-related news. In this edition:  US House-passed budget reconciliation bill moves to Senate – US Appeals Court temporarily reinstates tariffs stayed by trade court – Treasury will not release final CAMT regulations anytime soon. 

A review of the week's major US international tax-related news. In this edition:  US House passes budget reconciliation bill, moves to Senate for consideration – Treasury official comments on BEPS Pillar Two permanent safe harbor.

A review of the week's major US international tax-related news. In this edition:  US House Ways & Means Committee reports out $3.8t budget reconciliation bill, but stalls in Budget Committee – OECD releases Consolidated Commentary on GLoBE Model Rules.

A review of the week's major US international tax-related news. In this edition:  US House Ways and Means and Energy and Commerce Committees to begin budget bill markup,  reconciliation package may be scaled back – US international tax bill introduced – US-UK trade framework announced, details to be finalized in coming weeks.

A review of the week's major US international tax-related news. In this edition:  Trump Administration, Congressional Republicans push budget reconciliation deadline to early July – US House committees marking-up draft reconciliation legislation – Treasury Secretary outlines trade policy plan – IRS reissues interim guidance on Advance Pricing Agreement submissions – New IRS Chief Counsel named.

A review of the week's major US international tax-related news. In this edition:  US Congress to begin push to draft budget reconciliation legislation – Treasury official also assumes role as acting IRS Commissioner – US discussing how GILTI can coexist with OECD BEPS 2.0 Pillar Two rules – USTR announces actions regarding Chinese maritime and logistics sectors.