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August 3, 2009BIR RULING [COOP-(M-119) 485-09]RA No. 6938 & RR 20-01Southern Luzon State University Development CooperativeSouthern Luzon Polytechnic CollegeLucban, QuezonAttention: Mr. Fidel A. OblenaChairmanGentlemen :This refers to your request for tax exemption under the provisions of R.A. No. 6938, otherwise known as the "Cooperative Code of the Philippines". Documents submitted disclosed that Southern Luzon State University Development Cooperative (formerly, Southern Luzon Polytechnic College Development Cooperative), with Taxpayer Identification No. 005-831-584, is a primary non-agricultural multi-purpose cooperative transacting with both members and non-members. It is registered with the Cooperative Development Authority (CDA) under Certificate of Registration. No. LGA-0146 on June 23, 1992. A Certificate of Good Standing No. 09-0420 dated May 20, 2009 has been issued in its favor by CDA Calamba Extension Office Director Nonie I. Hernandez. The objectives and purposes for which it was formed 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 to its members;3. To provide goods and services and other requirements...