The report highlights the success of India’s Advance Pricing Agreement (APA) programme under the Central Board of Direct Taxes (CBDT) for FY 2023-24. A record 125 APAs were signed, including 39 bilateral APAs, fostering tax certainty and ease of doing business, especially for multinational enterprises. Since its inception in 2012, 641 APAs have resolved complex transfer pricing issues, covering over 3,400 assessment years and reducing litigation significantly. The programme has achieved mutual benefits for taxpayers and the government, with estimated revenues of ₹25,000 crores secured, translating to ₹7,500 crores in tax payments. The report underscores ongoing efforts to enhance efficiency.
The Complete Report can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/01/Annual-APA-report-for-FY-2023-2024.pdf