TaxTMI 
TaxTMI 
Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22
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....igning of 62 Advance Pricing Agreements by CBDT in FY 2021-22 <br>News and Press Release<br>Dated:- 31-3-2022<br><BR>The Central Board of Direct Taxes (CBDT) has entered into 62 Advance Pricing Agreem....
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....ents (APA) in FY 2021-22 with Indian taxpayers. This includes 13 Bilateral APAs (consequent to Mutual Agreement between India and its treaty partners) and 49 Unilateral APAs. With this, the total numb....
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....er of APAs since inception of the APA program has gone up to 421. Despite severe economic and social disruption caused by the CoVID-19 pandemic in first part of the financial year, the number of APAs....
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.... signed compares very well with the APAs signed in the preceding two years (31 APAs in FY 2020-21 and 57 APAs in FY 2019-20). The APA Scheme endeavours to provide certainty to taxpayers in the domain....
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.... of transfer pricing by specifying the methods of pricing and determining the arm's length price of international transactions in advance for the maximum of five future years. Further, the taxpayer ha....
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....s the option to rollback the APA for four preceding years, as a result of which, total nine years of tax certainty is provided. The progress of the APA scheme strengthens the Government's resolve of ....
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....fostering a non-adversarial tax regime and increasing the ease of doing business in India. CBDT appreciates the cooperative and transparent attitude of taxpayers in this regard.<BR> News - Press relea....
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....se - PIB....