Limited Liability Partnership (LLP) subject to 2% Profit Sharing Tax Effective YA 2026
Present (Prior to YA 2026) Effective YA 2026 Limited Liability Partnerships (LLPs) are taxed in line with corporate entities, with LLP income subject to the corporate tax rates of 15 %, 17 % and 24 %. Profit distributions to partners are exempt from tax under Paragraph 12C, Schedule 6 of the Income Tax Act 1967. Partners, however, must pay […]
