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: TDS :: VAT RATES :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: form 3cd :: empanelment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Direct Tax »
 India will benefit from growing tax revenue in FY2018
 I-T plans to pursue property-holders who have never filed income tax returns
 Direct Tax Collections up to July, 2017 show Growth
 How True is CBDT’s Claim of Record New Tax Filers?
 Five Questions for Republican Tax Reformers
 CBDT signs nine UAPAs with Indian taxpayers
 Made a mistake in your tax return? Here's how to correct it
 6 ways to verify your income tax return
 Businesses can file returns, pay taxes for July on GSTN portal
 Direct tax collection rises fastest since 2013-14
 The ‘statutory’ requirement problems of income tax returns

CBDT unveils guidlines for advance pricing arrangements
September, 01st 2012

India has allowed multinationals to ascertain in advance their potential tax liability relating to transactions with their Indian arms, a mechanism that can help address the frequent transfer pricing disputes.

The Central Board of Direct Taxes, the apex direct taxes body, has announced the guidelines for advance pricing arrangements (APAs), marking a shift from aggressive approach that resulted in tax demand of over one lakh crore rupees on transfer pricing cases in the last two financial years.

"The notification of the rules, which were much awaited, will provide greater clarity to taxpayers on the APA programme," said Vijay Iyer, Partner & Transfer Pricing Leader, Ernst & Young.

Transfer pricing refers to the pricing of assets, tangible and intangible, services, and funds transferred within an organisation in a cross border transaction to which tax administrations usually apply stringent rules to prevent transfer of income from high tax jurisdiction to low tax jurisdictions.

An APA agreement between a taxpayer and the tax authorities will set out in advance the method of determining the transfer pricing for transactions between a subsidiary and parent.

Once the company enters into such an agreement, it is absolved from the future litigation and also lot of compliance procedures.

"The pre-filing consultation meeting with the CBDT would be one of the key items in the APA application process, and it is good to see that the taxpayers can get a first-hand feel of the CBDT's thoughts on proposed transactions which the taxpayers plan to enter into with their associated enterprises," Iyer said.

The APA regime, as per the guidelines, will comprise unilateral, bilateral, and multilateral programmes.

The rules will help provide certainty about their tax liability to multinationals who complained against aggressive stance of tax authorities in transfer pricing cases.

The directorate of transfer Pricing had detected mispricing of Rs. 67,768 crore in 2010-11 and Rs 43,531 crore in 2011-12, according to the finance ministry data.

The finance ministry has already set up an APA directorate that will allow MNCs to avail the facility right away.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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