India’s Central Board of Direct Taxes has entered into a further five unilateral advance pricing agreements (APAs). The APAs were signed on 27 October 2016 with Indian taxpayers operating in various sectors, including manufacturing and information technology (IT) services, among others.
The agreements cover a range of international transactions, including sale of finished goods, purchase of raw materials, software development services, IT-enabled services, exports, and interest payment. India began offering APAs in July 2012 and the first five APAs were signed in April 2014. CBDT has now entered into 108 APAs (104 unilateral APAs and four bilateral APAs).
