Finance Ministry to clean-up trade transfer pricing norms to make doing business easy

India proposes a major clean-up of decade-and-a-halfold rules that govern the prices of imports by related parties - such as arms of multinationals from their parent - in an attempt to reduce delays and disputes and make it easier to do business. 

Orders issued by a valuation branch are valid for three years, after which a follow-up reassessment is done. Although timelines are prescribed, the lack of capacity and reliance on paperwork usually lead to delays of as much as two or three years.