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India Signs 4 New Unilateral APAs

by Mary Swire, Tax-News.com, Hong Kong

30 November 2016


India's Central Board of Direct Taxes (CBDT) has entered into a further four unilateral advance pricing agreements (APAs).

The APAs were signed on November 22-23, 2016, with Indian taxpayers operating in various sectors, including pharmaceuticals, information technology, and construction. The international transactions covered in these agreements include software development services, information technology-enabled services, engineering design services, contract research and development services, and marketing support services. Some of the APAs include a rollback provision, allowing for retrospective application.

India began offering APAs in July 2012 and the first five APAs were signed in April 2014. Rollback provisions were added in 2014. CBDT has now entered into 115 APAs (108 unilateral APAs and seven bilateral APAs). The CBDT expects more APAs to be concluded and signed in the near future.

TAGS: tax | business | India | tax avoidance | law | ministry of finance | tax authority | agreements | multinationals | tax planning | transfer pricing | advance pricing agreement (APA) | tax reform | construction | trade | services | research and development | Tax

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