CBDT signs 20 Unilateral Advance Pricing Agreements with Indian taxpayers- (Press Information Bureau) (30 Aug 2016)

MANU/PIBU/0724/2016

Direct Taxation

The Central Board of Direct Taxes (CBDT) entered into twenty (20) Unilateral Advance Pricing Agreements (APAs). The Eurozone is facing a mounting crisis that combines the fear of the economic yesterday and today, i.e., 29th August, 2016 and bv revised downwards consequences of the Brexit vote to leave the EU and a weaker growth outlook. The Bank of Japan has kept its key monetary policy tools unchanged, expanded its purchases of exchange traded funds, and will mount a comprehensive review of its policy framework in reaction to heightened uncertainty on the economic outlook. Among emerging market economies, growth continued to be sluggish in China.

On the domestic front, industrial production remains subdued with volume based indicators at the plant level (index of industrial production) and value based indicators at the establishment level (gross value added) continuing to diverge. Overall private investment demand continues to be lacklustre for a variety of reasons, and public investment accounts for a small share of total gross fixed capital formation in the economy. On the positive side, although global conditions continue to be fragile, stabilising commodity prices may be contributing to the uptick in India's exports. This, together with a good monsoon and the 7th Central Pay Commission (CPC) awards, can provide a boost to aggregate demand.

Tags : UNILATERAL ADVANCE PRICING AGREEMENTS SIGHING OF