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(c) COMPANIES

Companies comprise all associations with a legal entity — i.e., share companies, limited partnerships with share capital and co-operative societies. These companies are domiciled where they have their real centre of management, in most cases, that is, at their registered office. They are liable under the same conditions as individuals and partnerships (constituting, of course, entities taxable as such), but, for purposes of taxes on trade and industry, they have always to produce their balance-sheet and are taxed on the basis not only of their turnover and profits, but of their registered capital.

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