Signing of Bilateral Advance Pricing Agreement by CBDT

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....igning of Bilateral Advance Pricing Agreement by CBDT <br>News and Press Release<br>Dated:- 4-8-2016<br><BR>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. O....

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....verall, 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 disp....

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....ute 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 domai....

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....n 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 fost....

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