Question

1. ABC Corporation, a domestic corporation engaged in manufacturing, decides to expand its business operations by entering into a joint venture agreement with XYZ Corporation, a foreign corporation. The joint venture aims to develop and market a new line of products internationally. However, ABC Corporation is uncertain about the legal requirements and limitations of entering into a joint venture with a foreign corporation. Advise ABC Corporation on the legal provisions governing the establishment and operation of joint ventures with foreign corporations in the Philippines.

2. DEF Foundation, a non-stock, non-profit organization, wants to secure a tax exemption status for its charitable activities. However, the Bureau of Internal Revenue (BIR) requires DEF Foundation to comply with certain requirements to avail of such tax exemption. Explain the legal requirements and procedures that DEF Foundation must fulfill to qualify for tax exemption status under the Philippine laws.

3. GHI Partnership, a partnership engaged in real estate development, wants to transfer its shares to the partners of the partnership. However, there are certain legal restrictions on the transfer of shares in a partnership. Discuss the legal limitations and requirements on the transfer of shares in a partnership under the Philippine laws.