Aug 07, 2015
CBDT inks two more advance pricing pacts
The Central Board of Direct Taxes (CBDT) said on Thursday that it had entered into two unilateral advance pricing agreements (APAs) on August 3. These two APAs — entered into with two multinational companies — include the first such agreement with a ‘rollback’ provision.The CBDT has so far entered into 14 such agreements, of which 13 are unilateral APAs and one is a bilateral APA. Unilateral APAs are agreed between Indian taxpayers and the CBDT, without involvement of the tax authorities of the country where the associated enterprise is based. Bilateral APAs include agreements between the tax authorities of the two countries.