7 unilateral APAs signed by CBDT for taxpayers
Updated:7 years, 12 months ago
New Delhi, Nov 02 (ANI): The Central Board of Direct Taxes (CBDT) has signed seven more Advance Pricing Agreements (APAs) for taxpayers during October and all these agreements are Unilateral. The seven APAs pertain to various sectors of economy, including FMCG, Semi-conductor, Information Technology, Travel and Leisure, Office furniture and Engineering. The international transactions covered in these agreements include Provision of IT Enabled Services, Provision of Software Development Services, Provision of Marketing Support Services, Provision of Engineering Design Services, Payment of Interest, Trading, Import of Components. 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. With the signing of these seven agreements, the total number of APAs entered by the CBDT has gone up to 184. This includes 171 unilateral APAs and 13 bilateral APAs. In the current financial year, a total of 32 APAs, comprising of two bilateral and thirty unilateral, have been signed till date.
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