Today, Jan. 20, 2017, I created a BACPAC file from a SQL Azure V12 database, and when I went to import it to a local SQL Server 2014 instance using SQL Server Management Studio 2014, I got this error:
The internal target platform type SqlAzureV12DatabaseSchemaProvider does not support schema file version '3.5'. (File: [filepath]) (Microsoft.Data.Tools.Schema.Sql)
Note that I found several similar questions to this here on StackOverflow, but none with the exact same error message or same solution. I tried installing the Microsoft® SQL Server® Data-Tier Application Framework (17.0 RC 1), but that didn't help. (If there's a newer version, I couldn't find it.)
After downloading and installing SQL Server Management Studio 2016 (v16.5.1), I was able to use that to successfully import the BACPAC file. Note that it's a 1GB download and takes 30 minutes or more to install.