How are joint ventures taxed?
An unincorporated joint venture is taxed like a corporation. The share of the joint venture partners will no longer be taxable to them because they partake of dividends if paid to a domestic or resident corporation. However, an unincorporated joint venture formed for the purpose of undertaking a construction project or engaging in petroleum operations is not subject to the corporate income tax. Only the joint venture partners will be taxed on their respective shares. For more information, please contact: Usec. Eduardo Jarque, Jr Undersecretary, Tourism Planning and Promotions DOT Building Agrifina Circle, Rizal Park Manila 1000 Voice: (2) 536 0496/525 1805 Fax: (2) 525 6538 ejarquejr@tourism.gov.
