Tax treatment of joint ventures, consortiums

Tax treatment of joint ventures, consortiums

What are the key information involved in the formation and dissolution of a Joint Venture? Joint Ventures (“JV”) or Consortiums formed for construction projects must register with the Bureau of Internal Revenue and obtain a separate Head Office Tax Identification Number (TIN), distinct from their co-ventures, regardless of taxability or formation. A separate TIN must also be secured for each project at the Revenue District Office (“RDO”) with ju…