Tag Archives: OECD

Transatlantic Trade | US and Europe – Week of May 31, 2021

The European Union (EU) continues to resist supporting the World Trade Organization (WTO) Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) waiver for COVID-19 vaccines; and unveiled its alternative proposal on Friday.  Meanwhile, the United States (US) Government announced how it would start sharing some of its vaccine supply with the world this week.  Ahead … Continue Reading

Transatlantic Trade | US and Europe – Week of February 22, 2021

In the United States (US), President Joe Biden’s US Trade Representative nominee formally began the confirmation process, testifying before the Senate Finance Committee on Thursday and moving one-step closer to Senate approval.  The United Kingdom (UK) and Australia signed a new agreement this week, establishing a bilateral partnership – a “Space Bridge” – between their … Continue Reading

US Executive Branch Update – December 15, 2020

This report provides a snapshot of the US Executive Branch priorities via daily schedules and the prior day’s press releases. POTUS’ Schedule* *The US President (POTUS) and Vice President’s (VPOTUS) daily schedules are subject to change. The President has no public events scheduled. VPOTUS’ Schedule* 11:00 a.m. EST – THE VICE PRESIDENT departs Washington, D.C., … Continue Reading

US Executive Branch Update – November 18, 2020

This report provides a snapshot of the US Executive Branch priorities via daily schedules and the prior day’s press releases. POTUS’ Schedule* *The US President (POTUS) and Vice President’s (VPOTUS) daily schedules are subject to change. The President has no public events scheduled. VPOTUS’ Schedule* 2:00 p.m. EST – THE VICE PRESIDENT attends a U.S. … Continue Reading

Multinational Companies: Are You Engaged in the Global Tax Policymaking Process? Now is the Time

On October 12, 2020, the OECD’s (Organisation for Economic Co-operation and Development) Inclusive Framework on BEPS (base erosion and profit shifting) announced its plans for tackling digitalization related tax challenges going into middle of 2021 and likely beyond. The analysis below summarizes the work plan’s “two pillars”, next steps in the process and potential risk … Continue Reading

Transatlantic Trade: US and Europe – Week of October 12, 2020

A second wave of COVID-19 cases is being seen around the world and governments on both sides of the Atlantic are re-examining restrictions to curb the spread of the virus again.  Two of four COVID vaccine candidates in late stage trials in the United States (US) have paused after individuals had complications that are being … Continue Reading

US Executive Branch Update – September 3, 2020

This report provides a snapshot of the US Executive Branch priorities via daily schedules and the prior day’s press releases. POTUS’ Schedule* *The US President (POTUS) and Vice President’s (VPOTUS) daily schedules are subject to change, as is the White House press briefing schedule. 11:30 a.m. EDT – THE PRESIDENT receives his intelligence briefing | … Continue Reading

Transatlantic Trade: US and European Trade Talk Update – July 12, 2020

The United Kingdom (UK) unveiled its new human rights sanctions regime this past week, along with its first designations.  The United States (US) welcomed the action, and some US lawmakers continue to urge the European Union (EU) to adopt a similar regime.  Meanwhile, the EU moved forward with its trade policy review, with some seeking … Continue Reading

Transatlantic Trade: US and European Trade Talk Update – June 19, 2020

America and European countries remain focused on securing a COVID-19 vaccine to prevent resurgences of the virus, with the European Commission unveiling a strategy this week to accelerate its coordinated efforts.  At a North Atlantic Treaty Organization (NATO) Defense Ministerial this week, partners focused on COVID-19 and other topics, including the US’ announcement to lower … Continue Reading

Tariff War Continues – Digital Services Tax Moves Into the Crosshairs of Section 301

The Office of the US Trade Representative (USTR) is requesting comments for newly initiated Section 301 investigations on digital services tax (DST) adopted or under consideration by Austria, Brazil, the Czech Republic, the European Union, India, Indonesia, Italy, Spain, Turkey and the United Kingdom. Comments are due by July 15.  On June 2, USTR announced … Continue Reading

Tax Reform Efforts Continue; Section 385, BEPS Implementation Dominate Regulatory Agenda

Legislative Activity The Long March to Tax Reform Continues On June 24, House Ways and Means Committee Chairman Kevin Brady (R-TX) released the House GOP’s Task Force on Tax Reform’s long-awaited tax reform “Blueprint,” which lays out the GOP’s tax policy agenda for 2017. Specifically, and as we discuss in greater detail in our alert, … Continue Reading

Congressional Tax Reform Efforts Carry On, as Section 385 and BEPS Issues in Focus for the Administration

Legislative Activity Tax Reform Discussions Persist, Proposals Due Out This Month House Ways and Means Committee Chairman Kevin Brady (R-TX) remains focused on efforts to overhaul the U.S. tax Code and is expected to release his tax reform “blueprint” this month. He recently stated that he anticipates continuing to concentrate efforts on the blueprint “through … Continue Reading

Tax-Writers Continue Examining Tax Reform Proposals as the Administration and Regulators Focus on International Issues

Legislative Activity Congressional Tax-Writers Press on With Tax Reform Proposals This week, the House Ways and Means Subcommittee on Tax Policy, chaired by Representative Charles Boustany (R-LA), will hold a hearing to examine Member proposals to improve the current U.S. tax system. This hearing is part of a series of hearings on tax reform and … Continue Reading

Senate Takes on Business Tax Reform; Treasury to Have “Intense Comment Period” for Inversion Regulations

Legislative Activity Senate to Consider Business Tax Reform Proposals Following multiple hearings on tax reform thus far this year in the House Ways and Means Committee, this week the Senate Finance Committee will hold a hearing on business tax reform. During the hearing, the difference between Republican and Democrat approaches to taxing corporate income, including … Continue Reading

Tax-Writers Continue Debate on International Tax Reform, Inversions; Global Efforts on CbyCR Implementation Move Forward

Legislative Activity International Tax Reform v. Inversions Following up on Senate Finance Committee Chairman Orrin Hatch’s (R-UT) recent acknowledgment that his “corporate integration” proposal has been delayed, at least by “a few weeks,” it now appears that the House Ways and Means Committee may miss its self-imposed goal of March 31 by which to release … Continue Reading

Hatch’s “Corporate Integration” Plan Delayed; Treasury Expected to Release Final CbyCR Regulations by July

Legislative Activity “Corporate Integration” Proposal Delayed As the House Ways and Means Committee continues moving forward with its international tax reform proposal, last week the Senate Finance Committee indicated that its “corporate integration” proposal has been delayed. The proposal, which would lower the effective rate for corporations by eliminating a double layer of taxation, is … Continue Reading

Tax-Writers Debate International Tax Reform, Inversions; OECD Releases “Inclusive” BEPS Framework

Legislative Activity Democratic Tax-Writers Remain Focused on Inversions, Despite Push for International Tax Reform Last week, the House Ways and Means Committee held its first hearing on international tax reform this session. During the hearing, Members and witnesses discussed the need for tax reform, the benefits and challenges that come from doing international tax reform … Continue Reading

International Tax Reform Remains a Priority for Tax-Writers, BEPS Begins to Take Center Stage; Treasury Still Focused on Inversions

Legislative Activity With Tax Extenders (Mostly) Behind Them, Tax-Writers Likely to Focus on International Tax Reform With Congress (somewhat unexpectedly) having enacted permanent tax extender legislation prior to adjourning the first session of the 114th Congress, tax-writers are now expected to move forward with their efforts on international tax reform – though the substance and … Continue Reading

Tax-Writers Take On BEPS, Tax Extenders

Legislative Activity Tax-Writers Begin to Focus on BEPS, Tax Extenders Still Remain Though international tax reform negotiations may have fallen apart for 2015, tax-writers this week will hold their first hearings to address efforts by the Organisation for Economic Co-operation and Development (OECD) to counter corporate tax avoidance as part of more than two years … Continue Reading

Obama’s Clean Power Plan Finalized; Senate to Consider Stream Protection Rule

Regulatory Activity Clean Power Plan Last week, the Environmental Protection Administration (EPA) finally published in the Federal Register the final Clean Power Plan. This regulatory action is one of the keystones of the Obama Administration climate change initiative, which it sees as an important part of the President’s legacy. With this announcement, the EPA is … Continue Reading

House Ways and Means Tasked With Funding Highway Bill; Treasury Moves Forward With BEPS Implementation

Legislative Activity House Lawmakers Schedule Markup of Transportation Bill Without Revenue Provisions Last week, on Friday, October 16, the House Transportation and Infrastructure Committee released a six-year, $325 billion highway funding bill (the Surface Transportation Reauthorization and Reform Act of 2015); a markup of the legislation is scheduled for Thursday, October 22. Notably, while the … Continue Reading
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