Running a Partnership

Guides to Running a Partnership

References, Resources and Tools

• Basic Guide for New Partnerships by IRAS - https://www.iras.gov.sg/irashome/Businesses/Self-Employed/Learning-the-basics/Basic-Guide-for-New-Partnerships/

What you Have to Do

1. Know Tax Obligations
2. Set Accounting Period
3. Keep Proper Records and Accounts (Wiki)
4. Prepare Statement of Accounts (SOA)/ Balance Sheet (Sample SOA)
5. Prepare a 4-Line Statement
6. Calculate Divisible Profit
7. File Annual return for Partnership (Form P)
8. Pay Withholding Tax