{"id":86941,"date":"2016-11-21T16:29:44","date_gmt":"2016-11-21T10:59:44","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=86941"},"modified":"2016-11-21T16:29:44","modified_gmt":"2016-11-21T10:59:44","slug":"india-and-uk-sign-3-bilateral-advance-pricing-agreements","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/21\/india-and-uk-sign-3-bilateral-advance-pricing-agreements\/","title":{"rendered":"India and UK sign 3 Bilateral Advance Pricing Agreements\u00a0"},"content":{"rendered":"<p style=\"text-align: justify;\">The Central Board of Direct Taxes (CBDT) signed three (3) Bilateral Advance Pricing Agreements (APAs) here today taking the total number of APAs signed [both- bilateral and unilateral] so far to 111. These Agreements are a result of the understanding reached with the Competent Authority of United Kingdom (UK) some time ago. The Competent Authorities of India and UK had earlier exchanged mutual agreements amongst them under the Mutual Agreement Procedure (MAP) Article of the India-UK Double Taxation Avoidance Convention (DTAC).<\/p>\n<p style=\"text-align: justify;\">These three (3) Agreements cover international transactions in the nature of payment of intra-group service charges and pertain to the telecom industry. They also have a roll-back provision. With this, India and UK have concluded 5 bilateral APAs and some more would be concluded in the near future. The total number of bilateral APAs concluded so far by the CBDT is 7.<\/p>\n<p style=\"text-align: justify;\">The Advance Pricing Agreement (APA) Programme was introduced by the Finance Act, 2012 with a view to provide a predictable and non-adversarial tax regime and to reduce the litigation in the Indian transfer pricing arena. An APA can be entered into for a maximum of 5 years at a time. Since the notification of the APA scheme on 30.08.2012, a total of about 700 APA applications have been received during the first 4 years of the Programme (Financial Years 2012-13 to 2015-16), which indicates the wide acceptance of the APA programme by the taxpayers. Rollback of APAs was announced in the Budget in July 2014 to provide certainty on the pricing of international transactions for 4 prior years (rollback years) preceding the first year from which APA is to be applicable.<\/p>\n<p style=\"text-align: justify;\">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.<\/p>\n<p style=\"text-align: right;\">Ministry of Finance<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Direct Taxes (CBDT) signed three (3) Bilateral Advance Pricing Agreements (APAs) here today taking the total number of 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signs two Unilateral Advance Pricing Agreements with Indian taxpayers","author":"Saba","date":"April 29, 2017","format":false,"excerpt":"The Central Board of Direct Taxes (CBDT) has entered into two Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers, strengthening the Government\u2019s commitment to foster a non-adversarial tax regime. Both the agreements also have a \u201cRollback\u201d provision in them. The 2 APAs signed pertain to Information Technology and Banking &\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":179534,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/30\/cbdt-enters-3-advance-pricing-agreements-december-2017\/","url_meta":{"origin":86941,"position":1},"title":"CBDT enters into 3 Advance Pricing Agreements in December, 2017","author":"Saba","date":"December 30, 2017","format":false,"excerpt":"The Central Board of Direct Taxes (CBDT) has entered into three more Advance Pricing Agreements (APAs) during the month of December, 2017. While two of the Agreements are Unilateral, one is a Bilateral with the United Kingdom. With the signing of these Agreements, the total number of APAs entered into\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104461,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/02\/07\/cbdt-signs-4-unilateral-advance-pricing-agreements-pertaining-to-manufacturing-financial-information-technology-sectors\/","url_meta":{"origin":86941,"position":2},"title":"CBDT signs 4 unilateral Advance Pricing Agreements\u00a0pertaining to Manufacturing, Financial &#038; Information Technology sectors","author":"Saba","date":"February 7, 2017","format":false,"excerpt":"The Central Board of Direct Taxes (CBDT),Department of Revenue, Ministry of Finance has entered into four more unilateral Advance Pricing Agreements (APAs) yesterday. The four APAs signed pertain to the Manufacturing, Financial and Information Technology sectors of the economy. The international transactions covered in these agreements include Contract Manufacturing, IT\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36371,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/02\/20\/cbdt-signs-two-bilateral-advance-pricing-agreements-apas-with-united-kingdom\/","url_meta":{"origin":86941,"position":3},"title":"CBDT Signs Two Bilateral Advance Pricing Agreements (APAs) With United Kingdom","author":"Sucheta","date":"February 20, 2016","format":false,"excerpt":"On 29th January, 2016, the Central Board of Direct Taxes (CBDT) has entered into two bilateral Advance Pricing Agreements (APAs) with United Kingdom. CBDT has concluded three bilateral APAs, the first one being a bilateral APA signed with Japan in December, 2014 and the two bilateral APAs signed with two\u2026","rel":"","context":"In &quot;News&quot;","block_context":{"text":"News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/11\/Press-Information-Bureau.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":193774,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/03\/05\/cbdt-achieves-important-milestone-200-apas\/","url_meta":{"origin":86941,"position":4},"title":"CBDT achieves important milestone of 200 APAs","author":"Saba","date":"March 5, 2018","format":false,"excerpt":"The Central Board of Direct Taxes (CBDT) entered into seven more Advance Pricing Agreements (APAs) during the month of February, 2018. All the seven are Unilateral APAs. With the signing of these Agreements, CBDT has crossed an important milestone of having signed 200 APAs. The total number of APAs entered\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96141,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/01\/02\/central-board-of-direct-taxes-signs-2-advance-pricing-agreements\/","url_meta":{"origin":86941,"position":5},"title":"Central Board of Direct Taxes signs 2  Advance Pricing Agreements","author":"Saba","date":"January 2, 2017","format":false,"excerpt":"The Central Board of Direct Taxes (CBDT) has closed the year 2016 by entering into two more unilateral Advance Pricing Agreements (APAs).\u00a0The APA Scheme was introduced in the Income Tax Act in 2012 and the \u201cRollback\u201d provisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/86941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=86941"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/86941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=86941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=86941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=86941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}