May 19, 2009
BIR RULING [COOP-(M-086) 319-09]
R.A. No. 6938; ECCP-063-2008 dtd. 06/04/08
Seafarer's Multi-Purpose Cooperative
Lucban, Quezon
Attention: Cristina S. Tredente
Chairperson of the Board
Gentlemen :
This refers to your letter requesting a confirmatory ruling on the exemption enjoyed by cooperatives under the provision of R.A. No. 6938, otherwise known as the Cooperative Code of the Philippines. SAHIaD
Documents submitted disclosed that Seafarers Multi-Purpose Cooperative's is a multi-purpose cooperative transacting business with members and non-members with TIN No. 003-983-307 that it is registered with the Cooperative Development Authority (CDA) with CDA Registration No. LGA-1254 dated November 12, 1993; that the objectives and purposes for which it was formed among others, are as follows:
1. To encourage thrift and savings mobilization among the members for capital formation;
2. To create funds; in order to grant loans for productive and providential purposes of its members;
3. To provide goods and services and other requirements for the members;
4. To undertake agricultural and/or industrial production purposes;
5. To engage in the supply of production inputs to members/non-members and market their products;
6. To engage in the establishment, operation and...
