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Apr 30, 2024
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Advance pacts for transfer pricing keep rising, 125 clinched in FY24
Despite paucity of manpower available with the government, a record 125 Advance Pricing Agreements (APAs) were signed during FY24, in what experts believe shows the APA teams have become more efficient.
“The government has multiple APA teams spread across the country and with every year, both taxpayers and APA teams are gaining more experience in relation to various international transactions,” said Sanjiv Malhotra, senior advisor, Shardul Amarchand Mangaldas & Co. “This experience and efficiency seem to be a prime contributor for the number of signings going up on a year-on-year basis,” he said. In FY23, the total APAs signed were 95.
Currently, there are four teams under CBDT – based in Delhi, Mumbai, and Bengaluru, who take up both bilateral and unilateral APA applications.
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