The US Internal Revenue Service announced that their Advance Pricing and Mutual Agreement office will begin accepting requests for bilateral advance pricing agrements between the United States and India starting February 16, 2016.
These agreements will help make taxation more predictable for businesses that operate in both countries and strengthen government ties. Pre-filing conferences have been available since March 2015 related to these requests. The new framework aims to encourage a "spirit of openness and cooperation" between taxpayers and the two governments.
According to the IRS press release, "All requests for bilateral APAs covering Indian transactions, whatever the issue, must be submitted to APMA in accordance with Rev. Proc. 2015-41, 2015-35 IRB 263."
For more information, read the original article here: https://www.irs.gov/uac/Newsroom/IRS-to-Begin-Accepting-Bilateral-Advance-Pricing-Agreement-Requests-for-India-on-February-16