- India has inked 11 advance pricing agreements with multinational companies from sectors such as IT and ITES, investment advisory and services sector.
- This relates to the pricing of assets, tangible and intangible, and funds that are transferred within an organisation in a cross- border transaction.
- An Advance Pricing Agreement, or APA, is essentially a negotiated deal between a taxpayer and the tax authorities that sets out beforehand the method for determining the transfer pricing pertaining to transactions between a subsidiary and its foreign parent.
Source: EconomicTimes