OECD Announces Public Consultation on Transfer Pricing Matters: The OECD announced it will hold two public consultations on transfer pricing matters on November 6 and 7 in Paris. The event occurring on November 6 will focus on the discussion draft on revising guidance on profit splits, and the event on November 7 will focus on the discussion draft on attribution of profits to permanent establishments. The events will also be streamed live at http://video.oecd.org.
IRS and Treasury Issue Federal Financial Assistance Regulations: The IRS and Treasury have issued final regulations under section 597 that amend existing regulations that address the federal income tax treatment of transactions in which federal financial assistance is provided to banks and domestic building and loan associations. The final regulations adopt proposed regulations issued in May 2015 “with only non-substantive, clarifying changes.”