{"id":9924,"date":"2019-09-06T16:34:03","date_gmt":"2019-09-06T11:04:03","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=9924"},"modified":"2019-09-06T16:34:03","modified_gmt":"2019-09-06T11:04:03","slug":"cbdt-signs-26-advance-pricing-agreements-in-april-august","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cbdt-signs-26-advance-pricing-agreements-in-april-august\/","title":{"rendered":"CBDT signs 26 advance pricing agreements in April-August"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Central Board of Direct Taxes (CBDT) has entered into 26 Advance Pricing Agreements(APAs) in the first 5 months of the financial year (April to August,2019).<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<p><strong>About Advance Pricing Agreements(APAs):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>APA is an agreement between a taxpayer and tax authority determining the transfer pricing methodology for pricing the taxpayer\u2019s international transactions for future years.<\/li><li>APA help taxpayers to voluntarily resolve actual or potential transfer pricing disputes in a proactive,cooperative manner as an alternative to the traditional examination process.<\/li><\/ul>\n\n\n\n<p><strong>Types of APAs:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Unilateral APA involves only the taxpayer and the tax authority of the country where the taxpayer is located.<\/li><li>Bilateral APA (BAPA) involves the taxpayer,associated enterprise (AE) of the taxpayer in the foreign country, tax authority of the country where the taxpayer is located and the foreign tax authority&nbsp;<\/li><li>Multilateral APA (MAPA) involves the taxpayer,two or more AEs of the taxpayer in different foreign countries,tax authority of the country where the taxpayer is located,and the tax authorities of AEs.<\/li><\/ul>\n\n\n\n<p><strong>Importance of APAs<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>APAs gives (a)certainty to taxpayers (b)reduce disputes (c)enhance tax revenues and (d)make the country an attractive destination for foreign investments.<\/li><li>These agreements would also lowers complaints and litigation costs as they would be binding on both the taxpayer as well as the government.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Additional information:<\/strong><br><\/p>\n\n\n\n<p><strong>About Central Board of Direct Taxes(CBDT):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>CBDT is a statutory authority that functions under the Central Board of Revenue Act,1963.It is a part of the Department of Revenue in the Ministry of Finance.<\/li><li>CBDT provides inputs for policy and planning of direct taxes in India and is also responsible for the administration of direct tax laws through the Income Tax Department.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:The Central Board of Direct Taxes (CBDT) has entered into 26 Advance Pricing Agreements(APAs) in the first 5 months of the financial year (April to August,2019). Facts: About Advance Pricing Agreements(APAs): APA is an agreement between a taxpayer and tax authority determining the transfer pricing methodology for pricing the taxpayer\u2019s international transactions for future years.&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cbdt-signs-26-advance-pricing-agreements-in-april-august\/\">Continue reading <span class=\"screen-reader-text\">CBDT signs 26 advance pricing agreements in April-August<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3336,3244],"class_list":["post-9924","post","type-post","status-publish","format-standard","hentry","category-economy","tag-advance-pricing-agreement","tag-cbdt","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704317115},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/9924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=9924"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/9924\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=9924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=9924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=9924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}