Following an approach by India the US tax authorities for finding a solution to tax cases of about 100 US companies that have opted for the Mutual Agreement Procedure (MAP), the US has now agreed for a meeting next month to discuss MAP, advance pricing agreements (APAs) and also the Foreign Account Tax Compliance Act, which targets non-compliance by US taxpayers.
Tax officials from both sides have been discussing ways to solve India-US tax disputes in the last few months. Talks continued at the meeting of global tax authorities on countering Base Erosion and Profit Shifting (BEPS) this week.
Of the more than a hundred US firms that have filed for a solution under MAP, around 70 have already filed for advance pricing agreements.
