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April 29, 2009BIR RULING [COOP-(M-080) 286-09]RA 6938; ECCP-009-2003Laak Government Employees Multi-Purpose CooperativeLaak, Compostela ValleyAttention: Ms. Evangeline F. AmoraChairwoman, Board of TrusteesGentlemen :This refers to your letter dated August 8, 2007, as indorsed by the Regional Director, Revenue Region No. 19, Davao City, requesting for a tax exemption under the provisions of Republic Act (RA) No. 6938, otherwise known as the "Cooperative Code of the Philippines". TaEIcSDocuments submitted show that Laak Government Employees Multi-Purpose Cooperative (LAGEMCO and formerly San Vicente Government Employees Cooperative) with Tax Identification No. (TIN) 002-457-965, is a primary multi-purpose non-agricultural cooperative transacting business with members only; that it is registered with the Cooperative Development Authority (CDA) with Certificate of Registration No. CDA-RN-294 DVO dated October 25, 2002; that a Certificate of Good Standing has been issued in its favor by Rosalinda E. Villaseca, Administrator and Concurrent Officer-in-Charge, CDA Davao extension Office per CGS No. 2008-256; and that the objectives and purposes for which it was formed are the following:1. To encourage thrift and savings mobilization among the members;2. To procure and distribute...