The Central Board of Direct Taxes (CBDT) has entered into one Unilateral Advance Pricing Agreement (UAPA) during the month of April, 2018. With the signing of this Agreement, the CBDT has achieved another milestone of having signed its 200th UAPA. The total number of APAs entered into by CBDT has gone up to 220, which, inter alia include 20 bilateral APAs. The UAPA signed in this month also happens to be the first APA in the current Financial Year.
The UAPA entered into during April, 2018 pertains to provision of sourcing support services.
The progress of the APA scheme strengthens the Government’s resolve of fostering a non-adversarial tax regime. The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner.
DSM/RM/SS
