New Delhi join hands with Netherlands; signs agreements pertaining Electronics and Technology
Posted on:03 Dec 2017 09:00:01
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03 December 2017 Current Affairs: Central Board of Direct Taxes (CBDT) signed 2 Bilateral Advance Pricing Agreements (APA) with The Netherlands during the month of November’17.
These Agreements are the first ever Bilateral APAs with The Netherlands. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 186. This includes 171 Unilateral APAs and 15 Bilateral APAs.
These two APAs pertain to the Electronics and Technology sectors of the economy. The international transactions covered in these agreements include Distribution, Provision of Marketing Support Services, Provision of Business Support Services.
The APA Scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. Since its inception, the APA Scheme has been well-accepted by taxpayers.
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