CBDT has signed a bilateral Advance Pricing Agreement (APA) with a Japanese Company

by

Government of India

Ministry of Finance

 Department of Revenue

Central Board of Direct Taxes

 PRESS RELEASE

 19th December, 2014

 

SIGNING
OF FIRST BILATERAL APA BY CBDT

 

 

On 19.12.2014, Central Board of Direct Taxes has
signed a bilateral Advance Pricing Agreement (APA) with a Japanese Company.
This is India’s first bilateral APA. The APA is for a period of five years. The
APA has been finalized in a period of about one and a half years, which is
shorter than time normally taken in finalizing APAs internationally.

 

The APA scheme has been introduced to bring about
certainty and uniformity in transfer pricing matters of multi-national
companies and reducing litigation. APAs will improve investment climate in the
country. In the context of growing economic ties between Japan and India,
especially after Hon’ble Prime Minister’s visit to Japan, this APA is expected
to generate positive sentiments among Japanese investors in India.

 

 

(Rekha Shukla)

 

Commissioner of Income Tax

 

(Media & Technical Policy)

 

Official Spokesperson, CBDT

 

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