Indo-US tax MAP

The good news is that, after 2-3 years of tax disputes piling up with no resolution as the US side simply refused to negotiate with the Indian taxman, a fair amount of progress has been made. As reported by this newspaper today, around 70% of the US companies who have been asked to adjust their incomes upwards significantly for tax purposes—based on the assessments made in the last couple of years, transfer pricing adjustments have risen from R45,385 crore in FY12 to R70,016 crore in FY13—have entered into Advance Pricing Agreements (APAs) with the taxman.

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