CBDT signs 200th unilateral advance pricing pact
The CBDT today said it has signed its 200th unilateral advance pricing agreement (UAPA), which is aimed at promoting government's resolve of non-adversarial tax regime.
The Central Board of Direct Taxes (CBDT) had entered into one UAPA during April, thus taking the total count to 200.
The UAPA entered into during April 2018 pertains to provision of sourcing support services.
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With the signing of one agreement in April, the total number of UAPAs entered into by the CBDT has gone up to 220, including 20 bilateral ones.
"The progress of the APA (advance pricing agreement) scheme strengthens the government's resolve of fostering a non-adversarial tax regime," the CBDT said in a statement.
The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)