On 14 August 2015, the Inland Revenue Board of Malaysia published Taxation of Limited Liability Partnership, Public Ruling (PR) No. 5/2015, which provides guidance on the tax treatment and certain other aspects of registered limited liability partnerships (LLP). The main areas covered include:
- An overview of LLPs, including formation, record keeping requirements and residence determination;
- Capital contributions;
- Differences between LLPs, conventional partnerships and companies;
- Compliance o…