- CBDT has entered into 2 Bilateral Advance Pricing Agreements (APAs) in Electronics and Technology sectors during the month of November, 2017.
- These APAs are the first ever Bilateral APAs with The Netherlands.
- With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 186. This includes 171 Unilateral APAs and 15 Bilateral APAs.
The APA provisions were introduced in the Income-tax Act in 2012 and the Rollback” provisions were introduced in 2014. The APA Scheme endeavours 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.
