Signing of Bilateral Advance Pricing Agreement by CBDT

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..... Signing of Bilateral Advance Pricing Agreement by CBDT
News and Press Release
Dated:- 4-8-2016

The Central Board of Direct Taxes (CBDT) entered into a Bilateral Advance Pricing Agreement .....

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..... (APA) on 2nd August, 2016 with the Indian subsidiary of a Japanese trading company. This is the first Bilateral Advance Pricing agreement with a Japanese company having a "Rollback" provision in it. .....

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..... Overall, it is fourth bilateral APA signed by CBDT. Signing of this bilateral APA is an important step towards ascertaining certainty in transfer pricing matters of multinational company cases and dis .....

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..... pute resolution. The APA Scheme was introduced in the Income-tax Act in 2012 and the "Rollback" provisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in the doma .....

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..... in of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. The progress of the APA Scheme strengthens the Government's mission of fos .....

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..... tering a non-adversarial tax regime. The CBDT expects more APAs to be concluded and signed in the near future.
News - Press release - PIB .....

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