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income payments to the partnership is not subject to withholding as its income is not subject to taxes

Q: Is General professional partnership in the Philippines subject to withholding tax?

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income payments to the partnership is not subject to withholding as its income is not subject to taxes

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Professional Limited Liability Partnership

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As provided in the Philippine tax code under Sec. 26. Any general professional partnership, is exempted or shall not be subject to income tax. But the person engaging in business as partner in a general professional partnership shall be liable for income tax only in their separate and individual capacities.

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A professional business planner can help you split your partnership equally into two.

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are partnership formed by person for the sole purpose of exercising their common profession, no part of income of which is derived in engaging in any trade or businesses.

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