Tax Rules for General Professional Partnerships

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BIR REVENUE MEMORANDUM CIRCULAR NO. 3-2012: Tax Rules for General Professional Partnerships

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Title Supreme Court: Tax Rules for General Professional Partnerships

Law: Bir Revenue Memorandum Circular No. 3-2012

Decision Date: Jan 11, 2012

General professional partnerships are exempt from income tax, with individual partners liable for taxes on their distributive shares, while income payments for professional services are also not subject to withholding tax, provided certain conditions are met.

tax implications

general professional

partnership

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