An APA can be unilateral or multilateral.
A concluded APA is binding upon both the tax authority and the taxpayer once the terms and conditions in the APA are strictly observed by the taxpayer.
An APA will be effective for up to five years.
The above are some significant contents of the Circular No.
201/2013/TT-BTC providing guidance on application of advance pricing agreements (APA) to tax administration.
The Circular takes effect on February 05, 2014.
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