Tax rules for joint ventures in construction

Ask AI

PRESIDENTIAL DECREE NO. 929: Tax rules for joint ventures in construction

Getting related questions...
What do you want to know about the law?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Tax rules for joint ventures in construction

Law: Presidential Decree No. 929

Decision Date: May 4, 1976

Presidential Decree No. 929 amends the National Internal Revenue Code in the Philippines to include joint ventures for construction projects in the definition of "corporation" and exempts the portion of the contract price paid by a principal contractor to a sub-contractor from taxable gross receipts, aiming to address disadvantages faced by local contractors in competing with foreign contractors.

amendment

national internal revenue code

joint ventures

END