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Other Services

Acting along as the provider of main services: Formation of LLP, Conversion of LLP from Sdn Bhd and Conversion of LLP from Partnership, we also offer our client other valued added services.

 

Partnership Agreement

LLP (Limited Liability Partnership) agreement governed the mutual rights and duties of both the LLP and its partners. Partners of LLP are strongly advise to draft an agreement while setting up the business of LLP to avoid future dispute between partners. Partners are encourage to maintain the agreement throughout the operation of its LLP business, and is subject for amendment on the changes occur during the business operation. 

In the absence of Partnership Agreement on any matter set out in the Second Schedule of the LLP Act 2012, the provision of Second Schedule relating to the matter shall therefore apply accordingly.

 

Tax Planning and Professional Advices

Under the LLP Act 2012 (paragraph 5 Second Schedule), the partners are not entitled to receive remuneration unless it is stated in an LLP Agreement.

This is supported by the Section 39(1)(n). According to Section 39(1)(n), The partner's remuneration is not allowable if it is not provided in the LLP Agreement.

 

The tax treatment on the partners' remuneration if allowed in LLP Agreement, shall be in line with Section 9 of LLP Act 2012.