CBDT Inks Accord with Japanese Firm for Advance Pricing (Download PDF)

()

Download PDF of This Page (Size: 198.62 K)

The Central Board of Direct Taxes (CBDT) entered into a bilateral Advance Pricing Agreement (BAPA) with an Indian subsidiary of a Japanese trading firm. Total three BAPAs have been signed by CBDT with Indian subsidiaries of Japanese companies all including rollbacks.

CBDT inks accord with Japanese firm

CBDT Inks Accord with Japanese Firm

CBDT inks accord with Japanese firm

Highlights

  • The board had also modified a bilateral APA with another Indian subsidiary of a Japanese firm to include rollback provisions.
  • Multinational firms may prefer a bilateral APA as it facilitates understanding between the tax administrations of the two countries.
  • With this total number of BAPAs entered into by CBDT are now eight.

About Central Board of Direct Taxes (CBDT)

  • The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963.
  • The officials of the Board in their ex-officio capacity also function as a Division of the Ministry dealing with matters relating to levy and collection of direct taxes.

Values of CBDT

  • Integrity: discharges their duties truthfully, honestly and transparently
  • Accountability: responsible for their actions and outcomes
  • Responsiveness: sensitive, prompt, fair and their dealings with their stakeholders, fostering mutual trust
  • Professionalism: improves performance and competence with a focus on achieving excellence
  • Innovation: encourage new ideas, methods, processes and practices
  • Collaboration: We work together with our stakeholders and partners to achieve common goals
Image of Mission CBDT

Image of Mission CBDT

Image of Mission CBDT

Mission of CBDT

  • Formulate progressive tax policies
  • Make compliance easy
  • Enforce tax laws with fairness
  • Deliver quality services
  • Continuously upgrade skills and build a professional.

- Published/Last Modified on: March 17, 2017

International Relations/Organizations

Monthy-updated, fully-solved, large current affairs-2019 question bank(more than 2000 problems): Quickly cover most-important current-affairs questions with pointwise explanations especially designed for IAS, NTA-NET, Bank-PO and other competetive exams.