Executive summary

The IRS Advance Pricing and Mutual Agreement Program (APMA) issued the 25th annual Advance Pricing Agreement (APA) report (the Report) on March 30, 2024, in Announcement 2024-16. The Report discusses APMA, including its activities and structure for calendar year 2023, and gives useful insights into its operation.

The total number of APAs executed increased significantly from 77 to …