Joint Partnerships, limited Partnerships, Joint ventures as well as Merchants and Businessmen are taxed at progressive rates starting from 4% up to 21%
| TAXABLE INCOME | RATE |
| 0 ‐9,000,000 | 4% |
| 9,000,000 ‐24,000,000 | 7% |
| 24,000,000 ‐54,000,000 | 12% |
| 54,000,000 ‐104,000,000 | 16% |
| 104,000,000 ‐and above | 21% |
