Advance Pricing Agreements (APAs)
The Central Board of Direct Taxes (CBDT) in India has achieved significant milestones with the Advance Pricing Agreements (APAs) program in the fiscal year 2022-23. A record of 95 APAs was signed with Indian taxpayers, bringing the total to 516 since the program's inception in 2012, including both Unilateral (420) and Bilateral (96) APAs. The program saw its highest annual count and the most signings in a single day, with 21 APAs on March 24, 2023. APAs are pre-agreed methods for pricing transactions between related parties in different countries, aimed at avoiding tax disputes. This initiative has helped streamline tax liability assurances, reduced administrative costs, and provided greater transparency, culminating in the release of the fifth annual APA report detai
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