CBDT signs 7 more unilateral APAs with taxpayers

CBDT signs 7 more unilateral APAs with taxpayers

The Central Board of Direct Taxes (CBDT) has signed seven more advance pricing agreements (APAs) with Indian taxpayers, as it looks to reduce litigation by providing certainty in transfer pricing.The seven APAs signed over the last month pertain to sectors like FMCG, semiconductor, information technology, travel and leisure, office furniture, and engineering.“The CBDT has entered into 7 more APAs during October 2017.All these agreements are unilateral,” the CBDT said inastatement. With the signing of these pacts, the total APAs entered into by the CBDT has gone up to 184, which includes 171 unilateral and 13 bilateral APAs.

The Business standard, New Delhi, 03rd November 2017

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