According to the amendments a natural or legal person who is a member of a partnership can’t be a micro-enterprise tax payer. The proposal will come into force from July 1, 2014 so that a partnership member can withdraw his/her membership within this transitional period. During this period, if the micro-enterprise tax payer is still a member of the partnership then part of the partnership profit (related to micro-enterprise) shall be liable to micro-enterprise tax applying the additional rate of 20%.
