🚀 Record-Breaking Advance Pricing Agreements! 📊 #CBDT #TaxNews 1️⃣ Historic High in APAs!The Central Board of Direct Taxes (CBDT) has signed a record 125 Advance Pricing Agreements (APAs) for FY 2023-24, the highest in any financial year since the programme’s inception. 📈 2️⃣ Types of AgreementsOut of the 125, there are 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs), marking a 31% increase from the previous year’s 95 agreements. 🌏🤝 3️⃣ Global CollaborationBilateral APAs were notably signed with major treaty partners including Australia, Canada, Denmark, Japan, Singapore, the UK, and the US, showcasing strong international cooperation. 🌍 4️⃣ Benefits of APA SchemeThe APA scheme offers taxpayers certainty in transfer pricing, determining arm’s length prices of international transactions up to five future years, with an option to rollback four preceding years. 🔍💡 5️⃣ Ease of Doing BusinessThis initiative significantly boosts the Government of India’s mission to enhance the ease of doing business, aiding Multi-National Enterprises with numerous cross-border transactions. 🏢📉 🔗 Stay InformedFor continued updates on tax and business reforms, follow this thread. #Finance #BusinessEase