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New Delhi, April 25 The Government has ruled out the introduction of Advance Pricing Agreements (APA) for now. Over the last several years, the industry has been making a case for introduction of APAs to avoid transfer of pricing disputes.

“Transfer pricing regulations in India are in their infancy. Further, tax administration in India also needs more time to acquire the requisite expertise in this field. Therefore, it is not feasible to introduce the system of Advance Pricing Agreements in India at this stage,” Mr S.S. Palanimanickam, Minister of State for Finance, said in the Lok Sabha in a written reply here on Friday.

APAs are contracts between the taxpayer and the tax authority, under which both sides agree on transfer pricing policy for specified transactions over a specified period of time.

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