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May 26, 2018
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Acute staff crunch at tax department threatens to delay APA process
India put in place the regime of advance pricing agreements (APAs) — which allows setting the prices of cross-border transactions (transfer pricing) in advance — in 2012 and it has since been touted as a runaway success. But an acute staff crunch with the tax department is threatening to spoil the party. While as many as 220 APAs, including 20 bilateral pacts, between the tax departments have been signed so far, over 500 applications are remaining unresolved as there is not enough personnel to evaluate them. “We are concerned about the paucity of manpower and have communicated the same to the board (CBDT). But it is not easy to get the right personnel for a very niche field,” a senior tax department official said, on condition of anonymity.
Source -
https://www.financialexpress.com
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