In what context, ‘Advance Pricing Agreements’ are used?
[A]Intellectual Property Rights
The Advance Pricing Agreements (APA) Programme was introduced in the Income-tax Act, 1961 in 2012. The APA Scheme seeks to provide certainty to taxpayers in the field of transfer pricing through an agreement in advance. Such agreements are entered into by the CBDT with the approval of the Central Government, with the tax payers on the transfer price of international transactions between associated entities.