The Indian government signed 26 advance pricing agreements (APAs) in the first quarter of the 2019 financial year, according to a government release.
Multinational companies negotiate APAs with the Indian government to lock in their tax rates for moving money out of their Indian operations. An executed APA is designed to avoid the notoriously long and costly transfer pricing lawsuits in India that have tied up other multinationals.
- Twenty-five of the APAs were unilateral agreements, the statement said. The the Indian government entered into a single bilateral advance pricing agreement with the United Kingdom.
- The transactions covered in the…