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<h1>CBDT Signs First Bilateral Advance Pricing Agreement with Japanese Firm, Featuring Rollback Provision, to Aid Transfer Pricing Certainty.</h1> The Central Board of Direct Taxes (CBDT) signed a Bilateral Advance Pricing Agreement (APA) on August 2, 2016, with an Indian subsidiary of a Japanese trading company. This marks the first such agreement with a Japanese company featuring a Rollback provision and is the fourth bilateral APA by CBDT. The APA aims to provide certainty in transfer pricing for multinational companies and aid in dispute resolution. Introduced in 2012, with Rollback provisions added in 2014, the scheme supports a non-adversarial tax regime. The CBDT anticipates more APAs to be finalized soon.