Advance pricing agreement: GK, General Studies and Current Affairs

India, UK sign three advance pricing pacts

India’s Central Board of Direct Taxes (CBDT) and the UK have signed three Bilateral Advance Pricing Agreements (B- APAs) taking the total number of APAs concluded between India and the UK to 5. So, far India has signed a total of 111 APAs both-bilateral and unilateral.   The APAs between India and UK have been ..

India and US resolve 100 tax dispute cases under Mutual Agreement Procedure (MAP)

India and the US have resolved over 100 tax dispute cases involving Rs 5,000 crore under the Mutual Agreement Procedure (MAP). Key facts A meeting of the Bilateral Competent Authority Mutual Agreement Procedure (MAP) or Advance Pricing Agreement (APA) was held last month in the US to resolve the long pending disputes. During the meeting, ..

Advance Pricing Agreement Scheme gets clearance of FM

Finance ministry approved the Advance Pricing Agreement (APA) scheme, related to transfer pricing regulations. The APA scheme, proposed in Budget 2012-13, is being considered as one of the major industry-friendly initiatives. The finance ministry’s green signal to the provisions devised by the Central Board of Direct Taxes (CBDT) would assist implementation of the APA scheme ..