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: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: articles on VAT and GST in India :: empanelment :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: form 3cd :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARDS
 
 
Transfer Pricing »
 A web of requirements in transfer pricing regime
 RBI panel reveals ad hoc, arbitrary practices by banks to inflate interest rates
 Taxman tightens reporting norms for MNCs
 Sabh Infrastructure Ltd Vs. Asstt. Commissioner Of Income Tax
 Transfer Pricing For Multinational Entities
 The wash up - Transfer pricing and the Commissioner of Taxation
 Bosnia's Serb Republic tax body looks into transfer pricing in Nestro Group - report
 Catherine Harlow is new head of transfer pricing at AstraZeneca
  Transfer Pricing Adjustments - The Current Irish Landscape
 Transfer Pricing Adjustments - The Current Irish Landscape
 Will politics trump economics on petrol, diesel pricing?

More than 100 transfer pricing disputes with US firms resolved under tax treaty
January, 28th 2016

More than 100 transfer pricing disputes have been resolved under the mutual agreement procedure, or MAP, clause of the double taxation treaty between India and the US over the last one year, the income-tax department said in a statement on Thursday.

The Central Board of Direct Taxes (CBDT) had signed the framework agreement with the revenue authorities of the US in January last year under the MAP provision to boost investment sentiment among multinational companies. The agreement sought to resolve about 200 past transfer pricing disputes between the two countries in the information technology (software development) services and information technology-enabled services segments.

Transfer pricing refers to the practice of arm’s length pricing for transactions between group companies based in different countries to ensure that a fair price—one that would have been charged to an unrelated party—is levied. It has been an area of increasing dispute in India but of late the government has brought in a number of steps to reduce disputes.

“More than 100 cases have already been resolved and some more are expected to be resolved before the end of this fiscal,” the tax department said in a statement.

In addition, India will also soon be a part of the bilateral advance pricing agreement (APA) programme of the US.

“Prior to resolution of disputes under the framework agreement, the US bilateral APA programme was closed to India. The success of the framework agreement in short period of one year has led to the US revenue authorities opening up their bilateral APA programme to India. The US is expected to begin accepting bilateral APA applications shortly,” the statement said.

APA is an agreement between a taxpayer and the tax department on a transfer-pricing procedure for a particular set of transactions. India notified this programme in 2012.

Besides US, the government is also working on MAP programmes with Japan and the UK.

“The MAP programmes with other countries like Japan and UK are also progressing well with regular meetings and resolution of past disputes,” it said.

The tax department is confident that a “combination of a robust APA programme and a streamlined MAP programme would be helpful in creating an environment of tax certainty and encourage MNCs to do business in India”, the statement added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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