Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT Audit :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARDS :: TDS :: ACCOUNTING STANDARD :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India
 
 
« News Headlines »
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax
 Income tax returns (ITR) filing: Why small service providers need to get this benefit

Advance pricing could solve tax tiffs
November, 27th 2007
A major overhaul of international tax regulations could be on the cards. The government is examining the possibility of introducing advance pricing arrangement (APA) as part of changes in the countrys transfer pricing regulations.

A sub-group set up under the international taxation division of the Central Board of Direct Taxes (CBDT) has recommended this. Sources said the suggestions were being examined by the government which feels the time may be ripe for introducing APAs as disputes pertaining to transfer pricing were on the rise and tax authorities had gained technical competence in the last few years.

The critical objective is certainty for a taxpayer as opposed to potential litigation which leads to uncertainty. Its like authority for advance ruling under transfer pricing, says KPMG partner Sudhir Kapadia.

An APA is an agreement between a taxpayer and the tax authorities which allows both to set out in advance the method of determining transfer pricing for inter-company transactions.

Most countries allow APAs under their transfer pricing regulations as these help in resolving actual or potential pricing disputes in a cooperative manner. These also provide an alternative to the traditional dispute-resolution process.

Industry and tax experts have been demanding APAs since transfer pricing laws were introduced in the country in 2001. The government should look at a timeframe for conclusion of APAs when it introduces it to make it successful. A relationship based on trust should be established between the taxpayer and the APA authorities. Medium-term bilateral agreement with countries to make APA more effective for multinational company tax payers should also be looked at, Mr Kapadia said, adding that most countries go in for APAs.

A review of the threshold limit for selection for transfer pricing audit, pegged at Rs 15 crore at present, could also be on cards. This is because the government wants tax authorities to focus on quality in case of transfer pricing audits. The sub-group has also made recommendations on arms-length methodologies. Some of the changes suggested by the sub-group could be looked at for incorporation in the forthcoming Budget.

Transfer pricing refers to the pricing of assets, tangible and intangible, services and funds transferred within an organisation in a cross-border transaction.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions