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April 14, 2009BIR RULING [COOP-(M-071) 256-09]RA 6938; ECCP-070-2008Prime People Multi-Purpose CooperativeUnit 3B C & E BuildingNo. 26 Mindanao Avenue, Tandang SoraNovaliches, Quezon City Attention: Lilian M. ManilaChairpersonGentlemen :This refers to your letter dated January 20, 2009 requesting for a Certificate of Tax Exemption under the provisions of Republic Act (RA) No. 6938, otherwise known as the "Cooperative Code of the Philippines". Documents submitted show that Prime People Multi-Purpose Cooperative is a multi-purpose cooperative transacting business with members only; that it is registered with the Cooperative Development Authority (CDA) with Certificate of Registration No. N-624-6613 dated November 26, 2008 with Taxpayer Identification Number (TIN) 268-695-620-000; that a Certificate of Good Standing has been issued in its favor by Mr. Manuel C. Lapeña, Officer-In-Charge, Manila Extension Office, per CGS No. MEO-CGS-2008-479 dated December 04, 2008; and that the objectives and purposes for which it was formed are as follows:1. To encourage thrift and savings mobilization among the members;2. To create funds in order to grant loans for productive and providential purposes to its members;3. To engage in...