Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: form 3cd :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: cpt :: empanelment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT Audit
 
 
« News Headlines »
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you

Tax authorities should adopt bilateral APAs: PwC
September, 01st 2010

Cabinet approval of the Direct Taxes Code (DTC) Bill will witness a step towards a positive development in Transfer Pricing, a major concern for multinational companies operating in India.

"DTC will bring some good news on transfer pricing issues and with Cabinet approval we hope that the proposed Advance Pricing Agreements (APA) will take shape in due course," PricewaterhouseCoopers (PwC) associated director-transfer pricing said.

Transfer pricing means the adjustment of charges done between related parties for goods, services, or use of property.

"DTC recognises need for APA, but it does not mention whether it will be unilateral or bilateral agreement. Bilateral APA will be more helpful," he said.

In developed countries, such agreements either unilateral or bilateral, were entered into by taxpayers with one or more national tax authorities in advance for usually between 3-5 years, PwC national leader on transfer pricing Rahul K Mitra said.

Bilateral agreements were struck between tax authorities of countries and the unilateral one between an individual company and the tax authority of a country in which it was operating.

APAs are the agreement done between the taxing authority and the tax payer for a set of transactions.

APAs were treated as an excellent tool to achieve certainty on transfer pricing matters as would do away with the current system scrutiny for all tranactions above a threshold limit of Rs 15 crore.

Transfer pricing, simply put, was the art of pricing cross border transfer of goods and services that took place between companies belonging to the same multinational group.

More than 60 per cent of global trade took place between related parties (companies within the same group).

Till 2006-07 an estimated Rs 30,000 crore was involved in transfer pricing adjustments.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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