India aligning with global transfer pricing practices
India is swiftly moving towards global transfer pricing
practices. This is evident from transfer pricing changes enacted by
the Indian government during the last few years and further
introduced vide Union Budget 2017.
After allowing the use of the 'range' concept while
determining the arm's length prices with effect from financial
year 2014-15, in 2016, India witnessed the introduction of
Country-by-Country (CbC) reporting based on the recommendations of
the Organisation for Economic Co-operation and Development (OECD)
in Action Plan 13 of the Base Erosion Profit Shifting (BEPS)
project.
Furthermore, in the Union Budget 2017, consistent with
India's commitment demonstrated throughout the BEPS project,
the Indian government has introduced significant changes in the
Indian transfer pricing landscape which are largely in line with
the OECD's recommendations under BEPS Action Plans. In this
issue, we are
