Amendment on OSD for GPPs and Partners

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BIR REVENUE REGULATIONS NO. 2-2010: Amendment on OSD for GPPs and Partners

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Title Source: Supreme Court: Amendment on OSD for GPPs and Partners

Law: Bir Revenue Regulations No. 2-2010

Decision Date: Feb 18, 2010

BIR Revenue Regulations No. 2-2010 amends the rules for General Professional Partnerships (GPPs) regarding the Optional Standard Deduction (OSD), clarifying how partners can claim deductions and the irrevocable election process for either OSD or itemized deductions in their income tax returns.

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