Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 CBDT drops small tax demands but not TCS, TDS claims
 ITR Refund: Awaiting money from Income Tax? Here's why you have not yet received your amount
 Income Tax Notice: What to do if you receive a Section 143 (1) notice from taxman?
 Average tax return processing time cut to 10 days: CBDT
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
 ITR filing: Do these advance preparations before filing your income tax return
 What are the strategies to maximize tax refunds after submitting an income tax return (ITR)?
 ITR filing: Tax rules on income from house property that your should know
 CBDT likely to issue rules on angel tax next week
 Pension Taxation: Everything you need to know for ITR filing
 Income tax guide on pension: How to file pension income in ITR?

CBDT enters into seven advance pricing pacts in January
February, 08th 2018

Advance pricing agreements (APAs) were introduced in 2012 by the government to provide tax certainty to those multinational corporations that agree to certain principles relating to the valuation of their cross-border transactions.

The Central Board of Direct Taxes (CBDT) on Wednesday said it has entered into five unilateral advance pricing agreements (UAPA) and two bilateral advance pricing agreements (BAPA) in January this year. This includes the first BAPA signed with US, the board said. Advance pricing agreements (APAs) were introduced in 2012 by the government to provide tax certainty to those multinational corporations that agree to certain principles relating to the valuation of their cross-border transactions. The agreements also provide assessees with an alternate dispute-resolution mechanism with respect to transfer pricing. While unilateral pacts involve only the taxpayer and the tax authority of the country where the tax payer is located, bilateral agreements involve the taxpayer, associated enterprise of the taxpayer in the foreign country, the tax authority of the country where the taxpayer is located and the foreign tax authority. “The seven APAs entered into during January 2018 pertain to various sectors of the economy like banking, insurance, investment advisory, information technology, chemicals and engineering,” the board said. With these, the total number of APAs entered into by the CBDT has gone up to 196, which includes 178 UAPAs and 18 BAPAs.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting