Toyota, Mitsui, Marubeni to sign first set of pacts.

Mitsui, Toyota and Marubeni are likely to be among Japanese companies that would sign the first set of bilateral advance-pricing agreements (APA) with India shortly. These agreements will provide certainty to Japanese multinational firms operating in India and avoid conflicts over sharing of taxes between India and that country.

Two sources in the know told Business Standard that these companies were in advanced stages of negotiating bilateral APAs. Some companies from other countries have also applied for bilateral agreements but Japanese firms are likely to be the first to sign those.

'Most Japanese companies are interested in bilateral APAs. We plan to sign the first bilateral APA with them this year. Broad principles have been agreed upon,' said a finance ministry official who did not wish to be named as the talks were confidential.



BS