Thursday, 2 March 2017

CBDT Signs 10 Unilateral APAs With Indian Taxpayers

CBDT Signs 10 Unilateral (एकपक्षीय) APAs With Indian Taxpayers

The Central Board of Direct Taxes (CBDT) has signed 10 unilateral Advance Pricing Agreements (APAs) in past one week with Indian taxpayers to provide certainty (निश्चिति) in transfer pricing. The
different sectors in which these 10 APAs have been signed includes telecom, CBDTpharma, banking and finance, steel, retail and information technology. Out of these 10 agreements, 2 are Bilateral APAs with the United Kingdom and Japan while 7 agreements have rollback provisions in them. In 2016-17 till date a total of 76 APAs (7 Bilateral APAs and 61 Unilateral APAs) have already been entered into. With this, the total number of APAs entered into by the CBDT has reached 140 (10 Bilateral APAs and 130 Unilateral APAs). Under the agreement, the international transactions will include payment of royalty(राजसी गौरव) fee, trading in goods, IT-enabled services, software development services, marketing support services, clinical research services and payment of interest on ECBs.

certainty निश्चिति Definitions of certainty
firm conviction that something is the case.
she knew with absolute certainty that they were dead
synonyms: confidence, sureness, positiveness, conviction, certitude, assurance

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