CBDT signed 62 Advance Pricing Agreements (APAs) in FY 2021-22
- The Central Board of Direct Taxes (CBDT) signed 62 Advance Pricing Agreements (APA) with Indian taxpayers in FY 2021-22.
- This included 13 Bilateral APAs (consequent to Mutual Agreement between India and its treaty partners) and 49 Unilateral APAs.
- With this, the total number of APAs has gone up to 421, since inception of the APA program .
- In the previous two years, total APAs signed included 31 APAs in FY 2020-21 and 57 APAs in FY 2019-20.
- An advance pricing agreement (APA) is a multilateral or bilateral agreement between a tax authority and a taxpayer on transfer pricing methodology (TPM), for a set of international transactions issued for multiple years.
Points to remember:
- Total APAs signed by CBDT in FY22?
- Total APAS signed by CDBT till date, since its inception?