Consider the following statements regarding Advance Pricing Agreement(APA) sometimes in news 1. An advance pricing agreement (APA) is an ahead-of-time agreement between a taxpayer and a tax authority on an appropriate transfer pricing methodology (TPM) fo

examrobotsa's picture

Submitted by examrobotsa on

Q: 12 (Current Affairs-NOV/2016)
Consider the following statements regarding “Advance Pricing Agreement”(APA) sometimes in news
1. An advance pricing agreement (APA) is an ahead-of-time agreement between a taxpayer and a tax authority on an appropriate transfer pricing methodology (TPM) for a set of transactions at issue over a fixed period of time.
2. Recently India and UK signed three Bilateral Advance Pricing Agreements.
Which of the above statements are correct?

question_subject: 

Current Affairs

stats: 

0,101,39,23,13,101,3

keywords: 

{'advance pricing agreement': [0, 0, 0, 1], 'bilateral advance pricing agreements': [0, 0, 0, 1], 'time agreement': [0, 0, 0, 1], 'apa': [0, 0, 0, 1], 'appropriate transfer pricing methodology': [0, 0, 0, 1], 'tpm': [0, 0, 0, 1], 'tax authority': [0, 0, 0, 1], 'transactions': [0, 0, 2, 7]}