April 29, 2009
BIR RULING [COOP-(M-083) 289-09]
R.A. No. 6938; 008-2001
St. Isidore Multi-Purpose Cooperative, Inc.
Poblacion, Burgos, Pangasinan
Attention: Buenaventura Bonalos
Chairman
Gentlemen :
This refers to your letter dated October 5, 2008 received by this Office by way of 1st Indorsement dated December 11, 2008 from Revenue District Office No. 05, Alaminos City, Pangasinan, requesting tax exemption of St. Isidore Multi-Purpose Cooperative, Inc. under the provisions of R.A. No. 6938, otherwise known as the "Cooperative Code of the Philippines". HSDCTA
Documents submitted disclosed that St. Isidore Multi-Purpose Cooperative, Inc. ("The Cooperative" for brevity) with Taxpayer Identification No. 003-166-716-000, with principal address at Poblacion, Burgos, Pangasinan is a cooperative duly registered with the Cooperative Development Authority with Registration No. DAG-2654 dated June 28, 1993; that the objectives and purposes for which it was formed are the following:
1. To encourage thrift and savings mobilization among members for 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 engage in savings and loan services;
5....
