Compliance

The Partnership should

• ensure that all its invoices and official correspondence bear the name of thePartnership, its registration number;
• keep accounts and other records which will sufficiently explain the transactions and financial position for 5 consecutive years;
• File an annual income tax return to show all income earned by the partnership and deductions claimed for expenses incurred in carrying on the partnership business; despite this the partnership does not pay tax.
• renew registration with ACRA annually;
• Notify ACRA of changes to registered particulars such as a change of name or a change of partner/manager.