Business EconomyPosted at: Nov 17 2016 3:31PM

India, US agree to resolve 106 MAP cases

New Delhi, Nov 17 (UNI) Aiming to create a conducive atmosphere for investments and business by US companies in the country, India and US have agreed to resolve 66 Mutual Agreement Procedure (MAP) cases, relating to Transfer Pricing issues and 42 MAP cases of Treaty Interpretation issues, involving dispute worth Rs 5,000 crore.
The total amount that was locked-up in dispute in these cases is approximately Rs 5,000 crore and these cases were related to Assessment Years, ranging from AY 1999-2000 to AY 2011-12, the Finance Ministry said in a statement.
The resolved cases pertain to various issues like transfer pricing adjustments made to the international transactions in the nature of payment of royalty, management fees, cost contribution arrangements, engineering design services, contract R&D services, investment advisory services among others.
The decision was taken at a meeting of the Bilateral Competent Authority Mutual Agreement Procedure (MAP)/Advance Pricing Agreement (APA) between India and USA held in Washington DC last week of October, 2016.
India started its Bilateral APA process with the US by accepting applications from the Indian taxpayers from FY 2012-13, while the US started its Bilateral Process with India only in February 2016 by way of accepting applications from US taxpayers.
UNI ASH RJ 1530

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Tags: #India # US agree to resolve 106 MAP cases

India, US agree to resolve 106 MAP cases

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