TMI BlogAdvance Pricing Agreements Signed by Central Board of Direct Taxes Touch 140X X X X Extracts X X X X X X X X Extracts X X X X ..... Advance Pricing Agreements Signed by Central Board of Direct Taxes Touch 140 - News and Press Release Dated:- 1-3-2017 - News - Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 28th February, 2017. Press Release Advance Pricing Agreements Signed by Central Board of Direct Taxes Touch 140 The Central Board of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Direct Taxes (CBDT) has entered into 10 more Advance Pricing Agreements (APAs) over the last one week, including 7 Unilateral APAs signed today. Two of these ten agreements are Bilateral APAs with the United Kingdom and Japan. Seven of these Agreements have Rollback provisions in them. With this, the total number of APAs entered into by the CBDT has reached 140. This includes 10 Bilateral AP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... As and 130 Unilateral APAs. In the current financial year, a total of 76 APAs (7 Bilateral APAs and 61 Unilateral APAs) have already been entered into. The CBDT expects more APAs to be concluded and signed before the end of the current fiscal. The APAs entered into over the last week pertain to various sectors of the economy like Telecom, Pharmaceutical, Banking Finance, Steel, Retail, Inform ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation Technology, etc. The international transactions covered in these agreements include Payment of Royalty Fee, Trading in Goods, IT Enabled Services, Software Development Services, Marketing Support Services, Clinical Research Services, Non-binding Investment Advisory Services, Payment of Interest on ECB, etc. The APA Scheme was introduced in the Income-tax Act in 2012 and the Rollback p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. Since its inception, the APA scheme has evinced a lot of interest from taxpayers and that has resulted in more than 700 applications (both unilateral and bilateral) being fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led so far in about five years. The progress of the APA Scheme strengthens the Government s resolve of fostering a non-adversarial tax regime. The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner. (Meenakshi J Goswami) Commissioner of Income Tax (Media and Technical P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olicy) Official Spokesperson, CBDT. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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