Current Affairs - National - Discussion

Central Board of Direct Taxes (CBDT) has signed seven unilateral advance pricing agreements (APAs) with Indian taxpayers during October 2017. Including these 7 agreements, CBDT has so far entered into 184 APAs, out of which 171 are unilateral and 13 are bilateral. 32 APAs (2 bilateral and 30 unilateral) have been signed in 2017-18 itself. Objective of APA scheme is to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance.