Italy: First APA Bulletin Published
July 9, 2010 in Transfer Pricing International Journal
On April 21, 2010 the Italian tax administration published its first Bulletin on Advance Pricing Agreement (“APA”) procedures – known as International Rulings in Italy – carried out from 2004 to 2009, containing statistical information about the applications submitted and agreements made between taxpayers and the Italian Revenue Agency.
The main aspects that come to light when examining the Bulletin are that most of the agreements were based on the TNMM application and that an average time of 20 months was required to finalise an APA. Enjoying this article? To continue reading you need to take out a FREE trial to the Transfer Pricing Library.
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