August 7, 2009
BIR RULING [COOP-(M-122) 505-09]
R.A. No. 6938; Coop (M-011) 037-2009 dtd. 1/27/2009
Family Multi-Purpose Cooperative
Santisimo Rosario, San Pablo City
Attention: Ludy N. Pasagui
Chairman
Gentlemen :
This refers to your letter dated April 18, 2007 requesting for a tax exemption under the provision of Republic Act (R.A.) No. 6938, otherwise known as the Cooperative Code of the Philippines.
It appears that Family Multi-Purpose Cooperative is a multi-purpose cooperative duly registered with the Cooperative Development Authority (CDA) under Certificate of Registration No. LGA-6807 dated January 05, 2007 with Taxpayer Identification Number (TIN) 250-079-677; that it transacts business with members and non-members; that it was issued a Certificate of Good Standing by the CDA dated July 02, 2008; that the primary objectives 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 and grant loans for productive and providential purposes to its members;
3. To provide goods and services and other requirements to the members;
4. To engage in trading (buy and sell) and credit;
5. To promote Cooperative as a...
