June 15, 2010
BIR RULING [COOP-(004) 040-10]
RA No. 6938 & RR 20-01; BIR Ruling No. 006-01;
BIR Ruling No. 008-01; BIR Ruling No. DA-015-03;
BIR Ruling No. ECCP-034-08; BIR Ruling No. [COOP-(M-159)736-09]
Tough Producer Multi-Purpose Cooperative
Alta Tierra Subdivision
Tiguma, Pagadian City
Attention: Ms. Sheila M. Silim
Chairman
Gentlemen :
This refers to your letter dated January 11, 2010 requesting for the issuance of a Certificate of Tax Exemption under Republic Act No. 6938, otherwise known as the "Cooperative Code of the Philippines".
The facts, as you represent, are as follows:
TOUGH PRODUCER MULTI-PURPOSE COOPERATIVE is a multi-purpose cooperative duly registered with the Cooperative Development Authority ("CDA") on March 28, 2008 under Registration Certificate No. PAG-3257 and registered with BIR under TIN#006-701-403-000. Pursuant to its Articles of Cooperation, the objective of TOUGH PRODUCER MULTI-PURPOSE COOPERATIVE, among others, is to:
1. To encourage thrift and savings mobilization among member for the capital formation;
2. To create funds in order to grant loans for productive and providential purposes to its members;
3. To provide goods and services and other requirements of the members;
4. To undertake agricultural and/or industrial production purposes;
5. To...
