KPMG in India announces the release of their Advanced Pricing Agreement (APA) Survey Report 2017. This is the first of its kind survey which attempts to collate an all-round perspective about APA from taxpayers and the Central Board of Direct Taxes (CBDT).
Over the last five years, the APA regime in India has ushered in a new era of greater certainty for taxpayers and has so far received an overwhelming response from the taxpayers.
The survey findings offer key insights and observations from both taxpayers and the CBDT. While taxpayers applaud the rational and pragmatic approach of the Indian APA authorities, they expect a faster resolution rate, stronger administration and clarity around certain complex issues related to APAs. The CBDT, in response to our survey, highlights the need for the applicants to respond to APA authorities on time as well as being more transparent and collaborative to share relevant information pertaining to their multinational group. Detailed survey results, respondents’ feedback and key takeaways from the survey are presented in the report.
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