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The Advanced Pricing Agreement (APA), now concluded following discussions initiated in 2015, is expected to result in reversal of tax provisions of about $225 million made in the previous periods and boost the company's consolidated basic earnings per share by about $0.10 for quarter ended December 31, the Bengaluru-based company said in a statement. http://bit.ly/2mbawWj
APA is an agreement between a taxpayer and the tax authority defining an appropriate methodology for computing taxable income.
The agreement covers financial years from 2011 to 2021 and the company expects to payout about $233 million over the next few quarters due to difference between taxes payable as per APA and the actual amount paid in the prior periods.
(Reporting by Vishal Sridhar in Bengaluru; Editing by Vyas Mohan)