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June 24, 2010BIR RULING [COOP-(009) 054-10]RA 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. 006-01;[COOP-(M-159)736-09]May 26, 2010Sillon Community Development Cooperative(SICODEMCO)Sillon, Bantayan, CebuAttention: Ms. Vicenta RevillaChairmanGentlemen :This refers to your letter dated April 15, 2007, which was received by this Office by way of 1st Indorsement dated May 21, 2007 of Revenue Region No. 13, Cebu City, requesting for the issuance of a Certificate of Tax Exemption under Republic Act No. 6938, otherwise known as the "Cooperative Code of the Philippines". EIAHcCThe facts, as you represent, are as follows:SILLON COMMUNITY DEVELOPMENT COOPERATIVE ("SICODEMCO") is a multipurpose cooperative duly registered with the Cooperative Development Authority ("CDA") on December 23, 1996 under Registration Certificate No. CBU-1689 and registered with BIR under TIN 005-107-472-000; the objective of SICODEMCO, among others, is:1. To encourage thrift and savings mobilization among the members for the capital formation;2. To create funds in order to grant loans for productive and providential purposes and its members;3. To provide goods and services and...