General Professional Partnership Formed for Practicing the Law Profession is Exempt from Income Tax
BIR Ruling No. 160-91 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Aug 21, 1991
Full text
August 21, 1991 BIR RULING NO. 160-91 50-b 439-88 160-91 Gentlemen : In reply to your letter dated July 16, 1991, please be informed that your general professional partnership formed for the purpose of practising the law profession is exempt from income tax pursuant to Section 24 (a) of the Tax Code, as amended. Accordingly, payments to said partnership for professional services rendered are exempt from the withholding tax provisions of Revenue Regulations No. 6-85 otherwise known as the Revised and Consolidated Expanded Withholding Tax Regulations implementing Section 50(b) of the Tax Code, as amended. Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner Officer-in-Charge
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.