Brics to set up working groups on transfer pricing, revenue statistics

…genuine interest from Brics partners, and we have tried to share it practically, through the Brics Tax Collaboration Tool, rather than merely in principle,” she said. Revenue Secretary Arvind Shrivastava said, “ the International Taxation and Transfer Pricing Working Group creates a permanent Brics platform for sharing experience on treaty interpretation, transfer pricing audit, APA and MAP mechanisms, and the multilateral negotiations including the UNFCITC, where our collective voice is needed and currently insufficient. ” APA stands for Advance Pricing Agreement, while MAP stands for Mutual Agreement Procedure. Both are mechanisms used to provide greater certainty in international taxation and resolve transfer-pricing and cross-border…