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On 19.12.2014, Central Board of Direct Taxes has signed a
bilateral Advance Pricing Agreement (APA) with a Japanese Company.
This is India's first bilateral APA. The APA is for a period of
five years. The APA has been finalized in a period of about one and
a half years, which is shorter than time normally taken in
finalizing APAs internationally.
The APA scheme has been introduced to bring about certainty and
uniformity in transfer pricing matters of multi - national
companies and reducing litigation. APAs will improve investment
climate in the country. In the context of growing economic ties
between Japan and India, especially after Hon'ble Prime
Minister's visit to Japan, this APA is expected to generate
positive sentiments among Japanese investors in India.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
