The Central Board of Direct Taxes (CBDT) has signed 11 unilateral Advance Pricing Agreement (APA), to bring further clarity to the international taxation regime in the country. This takes the total number of APAs, both bilateral and unilateral, India has entered into to 59.
“The APA programme was introduced by the Finance Act, 2012 to provide a predictable and non-adversarial tax regime and to reduce litigation in the Indian transfer pricing regime,” the government said in a release, adding that 50 of these agreements had been signed in the current financial year.
