Daily Tax Update - July 11, 2017: OECD Releases Updates to Transfer Pricing Guidelines, Model Treaty

OECD Releases Updates to Transfer Pricing Guidelines, Model Treaty:  The OECD released the 2017 edition of its Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. In addition, the OECD released draft contents of the 2017 update to its Model Tax Convention. Among other things, these updates reflect changes resulting from the OECD’s Base Erosion and Profits Shifting (BEPS) project.

August Senate Recess Delayed as Healthcare Talks Continue:  Senate Leader Mitch McConnell (R-KY) announced the Senate will delay the start of the August recess until the third week of August to continue work on healthcare, nominations, and other matters.

Republican Senators also appear to be considering the retention of certain tax increases enacted under the Affordable Care Act, such as the 3.8% net income investment tax and 0.9% surtax on upper income individuals, as part of a revised healthcare bill.