EY Cross-Border Taxation Spotlight for Week ending 10 January 2025
A review of the week's major US international tax-related news. In this edition: President-elect Trump open to two budget reconciliation bills, prefers one – House W&M Committee leaders introduce Taiwan tax bill – IRS issues comprehensive package on classification, sourcing of digital content and cloud transactions – IRS releases final regulations on DPLs, extending BEPS Pillar 2 transition relief for DCLs – Final rules released on certain partnership related-party basis shifting transactions – IRS CCA addresses transaction reducing future GILTI inclusion.