Chidambaram says will issue transfer pricing rules by April

Source : REUTERS
Last Updated: Mon, Mar 04, 2013 11:48 hrs
India's Finance Minister Chidambaram attends a news conference in Hong Kong

India will issue so-called safe harbour rules by April 2013, a set of provisions that under certain conditions would enable tax authorities to accept companies' transfer pricing claims without further scrutiny, Finance Minister P. Chidambaram said on Monday.

Transfer pricing is the value at which companies trade products, services or assets between units across borders, a regular part of doing business for a multinational.

More from Sify: