Union Budget 2012-13-Advance Pricing Agreement Introduced

Advance Pricing Agreement Introduced

With a view to bring down Tax litigation and provide Tax certainty to the foreign investors, the government has introduced the Advance Pricing Agreement (APA) in the Finance Bill 2012. While presenting the Budget 2012-13 in LokSabha today Shri Mukherjee said that in Globalized Economy with expanding cross border production chains, APA can significantly bring down tax litigation and provide tax certainty to foreign investors. Though APA has been included in the DTC Bill, 2010 the government has brought forward its implementation by introducing it in the Finance Bill 2012.