EY Cross-Border Taxation Spotlight for Week ending 21 July 2017

A review of the week's major US international tax-related news. In this edition: US House Budget Committee approves FY 2018 budget resolution with reconciliation instructions for US tax reform – White House official says “Big 6” and their staffs making headway on US tax reform – US Senate Finance Committee advances nomination of David Kautter for Treasury Assistant Secretary for Tax Policy -- US Tax Court refuses to follow IRS guidance subjecting foreign investors to US tax on dispositions of partnership investments; broad implications and possible refund claims -- Deadline approaching for certain MNCs to request suspension of MAP-related deadline under Mexico-US income tax treaty – OECD released updated version of Guidance on the Implementation of Country-by-Country Reporting.