Friday 7 September, 2012
8:30 PM IST / 16.00 PM GMT / 11.00 AM EST
The APA program marks a new era in the world of transfer pricing administration in India, one that promises to be forward-looking and cooperative. Neither of these are the usual characteristics of transfer pricing audits in India, where more than 50% of the taxpayers (picked up for audit) are struggling with significant adjustments. With the total amount of transfer pricing adjustments adding up to more than US$ 19 billion over a seven year audit cycle (the latest audit cycle completed in 2011 alone contributing to adjustments worth US$ 9 billion), clearly taxpayers have been pushed to the edge in their quest for certainty on transfer pricing matters in India. There was an earnest need to introduce a forum that would offer a conducive environment for up-front addressing the challenges in transfer pricing in India. The global community has therefore applauded the Indian Finance Minister's efforts and vision in introducing India's APA program as part of the Finance Act, 2012.
PwC India had released a white paper on APAs for the benefit of the Indian Revenue and the industry at large, in March, 2011, i.e. more than a year before the APA program was formally announced in the 2012 Union Budget. With the recent issuance of the detailed APA guidelines, PwC would like to invite you to an interactive live webcast on the APA regime in India, on Friday 7 September, 2012.
Principal Transfer Pricing
Rahul K. Mitra
Transfer Pricing Leader
Duration: 1 hour