India’s new high in closing advance tax deals with multinationals will boost business demand for such pacts, putting new pressure on the country’s backlog of pending cases it must tackle.
The Central Board of Direct Taxes entered into 174 advance pricing agreements in the year ending March 31, the most in any financial year since India launched its APA program in 2012. In comparison, the US Internal Revenue Service finalized 142 APAs in calendar year 2024.
“Some people who’ve been on the fence will see 174 and say, ‘Why not solve our problems also?’” said Vijay Iyer, ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.