Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 2nd November, 2017.
PRESS RELEASE
Indian Advance Pricing Agreement regime moves forward with signing of seven APAs by CBDT in October, 2017
The Central Board of Direct Taxes (CBDT) has entered into 7 more Advance Pricing Agreements (APAs) during the month of October, 2017. All these Agreements are Unilateral.
With the signing of these seven Agreements, the total number of APAs entered into by the CBDT has gone up to 184. This includes 171 Unilateral APAs and 13 Bilateral APAs. In the current financial year, a total of 32 APAs (2 Bilateral and 30 Unilateral) have been signed till date.
The 7 APAs entered into during October, 2017 pertain to various sectors of the economy like FMCG, Semi-conductor, Information Technology, Travel & Leisure, Office furniture and Engineering. The international transactions covered in these agreements include Provision of IT Enabled Services, Provision of Software Development Services, Provision of Marketing Support Services, Provision of Engineering Design Services, Payment of Interest, Trading, Import of Components, etc.
The progress of the APA scheme strengthens the Government’s resolve of fostering a non-adversarial tax regime. The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT.
