Taxes shall be imposed on partners in partnerships and not on the company itself. The company is required to file a tax declaration to disclose information that shows the amount of income, profit, loss, expenses, debts, and any other items or tax related matters of the partnership for the taxable year. The declaration shall be subject to procedural rules, including fines imposed on tax declarations in accordance with this Law.

The partnership, rather than its partners, shall be responsible for choosing the taxable year, accounting method, inventory method, and any other accounting policies consistent with this Law. It shall also be responsible for filing notifications and statements required in relation to its types of activity.

The provisions of this Law concerning capital companies shall apply to the shares of limited partners in limited partnerships.