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example partnership in the Philippines lawfirm
Partnership is covered by Article 1767-1867 of the Civil Code of the Philippines --http://www.scribd.com/doc/55300616/Partnership
tanong pa e
many you know why i said many because many loves to take over Philippines
income payments to the partnership is not subject to withholding as its income is not subject to taxes
A Philippine partnership must be registered with SEC.A minimum of 2 partners is required. Partners have unlimited liability.One can setup a limited partnership, the limited partners have limited liability the other partners have unlimited liability.A partnership is taxed like a corporation.
If you mean tax advantage of corporation in the Philippines compared to other countries..I can not answer that. But if you mean corporation in the Philippines compared to Partnership, the corporation is tax on its net income at currently 30% but if its a partnership, same is tax at 30% but there would be presumptive distrubtion of net income among partners which will be subjected to tax again. For corporation in Philippines, the liability of shareholders is limited on their capital subscription only. Unlike partnership or single proprietor, which is to the extent of personal property except of course for limited partners.
yes, because Starting in 2002 the Forum has worked with local partners in the Philippines to organize learning events and workshops on issues ranging from decentralization to on the possibility of a federal system in the Philippines.
Aguinaldo helped organize an insurrection, or rebellion, against U.S. rule.
Caltex is the result of a partnership between Socal & Texaco, and is now owned, by Cheveron which too is merged with Texaco.
Under the Civil Code of the Philippines, a partnership is treated as juridical person, having a separate legal personality from that of its members. Partnerships may either be general partnerships, where the partners have unlimited liability for the debts and obligation of the partnership, or limited partnerships, where one or more general partners have unlimited liability and the limited partners have liability only up to the amount of their capital contributions. It consists of two or more partners. A partnership with more than P3,000 capital must register with the Securities and Exchange Commission (SEC). You can check Title IX Art 1767-1783.
A Limited Liability Partnership is a corporate business vehicle that enables entrepreneurial initiative to operate in flexible and efficient manner by providing the benefits of limited liability and allowing its members to organize their internal structure as a partnership. LLP form of business is ideal for all classes of entrepreneurs whether it be traders, manufacturers or professionals. It is easy to incorporate and manage. LLP is more credible and preferable than a normal partnership firm.