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International Annual Review 2012

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Details

Service: Tax, Global Transfer Pricing Services, Global Compliance Management Services
Type: Regulatory update
Date: 8/31/2012

India - Guidance establishing APA program is released

August 31: India’s tax authorities today issued a release establishing India’s advance pricing arrangement (APA) program.

Released as Notification No. 36 of 2012 (dated 30 August 2012) [PDF 743 KB], the guidance inserts Rules 10F to 10T to introduce the APA regime. The APA program guidance will be effective on its date of publication in the official gazette.

Overview of APA program

The notification establishes an APA program in India. Among the provisions are:

Measures requiring mandatory pre-filing consultations, but allowing taxpayers to have anonymous pre-filing consultations
Provisions establishing the rules for bilateral, multilateral, and unilateral APAs
Rules establishing the APA application process, and allowing applications to be modified and/or withdrawn
No provision allowing for “rollbacks” with respect to an APA
Directives that the tax administration’s APA team is to be comprised of individuals with experience in economics, statistics, law, and other appropriate disciplines, in addition to the Revenue team
Provisions that the APA guidance will apply to existing as well as new international transactions
Measures allowing for the renewal of APAs
The APA filing fee schedule—to range from Rs 10 lakhs - Rs 20 lakhs (approximately U.S. $18,000 - $36,000) based on the value of international transactions

KPMG observation

With an initial review of the APA guidelines, tax professionals have noted that India’s APA regime is a positive development for taxpayers in that it will allow for greater certainty.

Other positive developments with respect to the APA program are that it includes rules allowing taxpayers to seek bilateral and multilateral APAs, as well as unilateral APAs; allowing for anonymous pre-filing consultations; and providing that the tax administration’s APA team is to be composed of “focused” APA members, composed of individuals with experience in a range of fields (economics, statistics, law, and other appropriate areas).

Yet, it has been observed that the APA rules do not suggest a time frame for the tax administration’s disposal of an application, that no rollback is allowed, and that no “firewalls” are established.

Read an August 2012 report [PDF 156 KB] prepared by the KPMG member firm in India: Advance Pricing Agreement Rules notified in India

View a webcast [7 minutes / 36 seconds] discussion of highlights of the APA guidance, presented by a KPMG tax professional.

For more information, contact a tax professional with KPMG’s Global Transfer Pricing Services:

Rohan K. Phatarphekar

+91 (22) 3090 2000

Alpana Saksena*

+1 (202) 533 3025

* Alpana Saksena is currently located in the United States, having joined KPMG after spending more than 25 years with the Indian Revenue Service.

Or contact a tax professional with KPMG's Global Transfer Pricing Services.

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© 2013 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.