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of <h1>CBDT Signs Four New APAs in Pharma, IT, and Construction Sectors, Totaling 115 Agreements to Date.</h1> The Central Board of Direct Taxes (CBDT) signed four unilateral Advance Pricing Agreements (APAs) on November 22 and 23, 2016, bringing the total to 115 APAs, including 7 bilateral and 108 unilateral agreements. These recent agreements involve sectors like pharmaceuticals, IT, and construction, covering transactions such as software development, IT-enabled services, and marketing support. The APA scheme, introduced in 2012 with rollback provisions added in 2014, aims to provide certainty in transfer pricing. The scheme has attracted over 700 applications, supporting the government's goal of a non-adversarial tax regime. More APAs are expected soon.
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