Comments
The tax authorities of India and Japan will soon ink a bilateral advance pricing agreement in respect of a Japanese company, Revenue Secretary Shaktikanta Das has said.
This will give a strong signal to other Japanese companies to look at India more positively (for investments), Das said at an international tax conference organised by Assocham here on Thursday.
“The APA between the tax authorities of India and Japan has been finalised in respect of a Japanese company. It will be inked shortly,” Das said.
This will be the first bilateral APA to be signed by India and would come close on the heels of the Prime Minister Narendra Modi's official visit to Japan recently.
Das, however, declined to name the Japanese company that will benefit from the bilateral APA.
The Central Board of Direct Taxes (CBDT) has so far signed five unilateral APAs with different companies in India.
To enable taxpayers attain certainty in their transfer prices of international transactions for up to nine years, the recent Budget had introduced the concept of rollback of APAs for the past four years, in addition to their application to five prospective years.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.