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Indian government to upgrade transfer pricing norms to match global standards

February 18, 2011

The Indian finance minister’s comments to the press last month about the inadequacies of the country’s transfer pricing norms have provoked a new wave of hope for future clarity, reports a KPMG correspondent.

While addressing a press conference on the issue of black money last month. Pranab Mukherjee, the Indian finance minister, said the Indian transfer pricing norms, which were introduced in 2001, do not have detailed provisions compared to the transfer pricing provisions of developed countries.

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