EY ITS Washington Dispatch, July 2020

The Ernst & Young ITS Washington Dispatch brings you a monthly review of US international tax-related developments. In this edition: IRS issues final and proposed interest expense limitation regulations – Final and proposed GILTI regulations deliver few benefits, some surprises – IRS releases final regulations under Section 250 for computing FDII and GILTI deduction – IRS releases new draft partnership Schedules K-2 and K-3 for international tax reporting – US announces action against France’s DST – G20 Finance Ministers / Central Bank Governors reiterate commitment to BEPS 2.0 pillars – OECD releases new corporate tax data including CbCR statistics – OECD issues model rules for data reporting by platform operators for sellers in sharing / gig economy.