Quick Summary
Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22 The Central Board of Direct Taxes (CBDT) has entered into 62 Advance Pricing Agreements (APA) in FY 2021-22 with Indian taxpayers. This includes 13 Bilateral APAs (consequent to Mutual Agreement between India and its treaty partners)
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FAQ :
An APA is an agreement that provides certainty to taxpayers regarding transfer pricing. It specifies the methods for pricing and determining the arm's length price of international transactions for up to five future years.
The CBDT signed 62 Advance Pricing Agreements in FY 2021-22.
Of the 62 APAs signed, 13 were Bilateral APAs and 49 were Unilateral APAs.
The APA scheme provides certainty for up to five future years by specifying pricing methods. Taxpayers can also roll back the APA for four preceding years, offering a total of nine years of tax certainty.
The number of APAs signed in FY 2021-22 (62) compares well with the preceding two years, which saw 31 APAs in FY 2020-21 and 57 APAs in FY 2019-20.
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