On 14 August 2015, the Inland Revenue Board of Malaysia published Taxation of Limited Liability Partnership, Public Ruling (PR) No. 5/2015, which provides guidance on the tax treatment and certain other aspects of registered limited liability partnerships (LLP). The main areas covered include: An overview of LLPs, including formation, record keeping requirements and residence determination; Capital contributions; Differences between LLPs, conventional partnerships and companies; Compliance obligations, including appointment of a compliance officer; Conversions of a conventional partnership or company to an LLP; Tax Treatment of LLPs, including examples; Tax Treatment of partners of an LLP; and Bilateral and unilateral tax...