August 10, 2009
BIR RULING [COOP-(M-123) 506-09]
RA 6938; 008-2001
Caridad Ilaya Multi-Purpose Cooperative
Barangay Caridad Ilaya
Atimonan, Quezon
Attention: Mr. Abner B. Socorro
Chairman
Gentlemen :
This refers to your letter dated March 13, 2008 requesting for a Certificate of Tax Exemption under the provisions of R.A. No. 6938, otherwise known as the "Cooperative Code of the Philippines".
Documents submitted disclosed that the CARIDAD ILAYA MULTI-PURPOSE COOPERATIVE is a multi-purpose cooperative transacting with members only; that it is registered with the Cooperative Development Authority with Registration No. MLA-C-2009 with Tax Identification Number (TIN) 004-165-063-000; that a Certificate of Good Standing has been issued in its favor by Ninue L. Hernandez, Regional Director, Cooperative Development Authority, Calamba Extension Office; and that the objectives and purposes for which it was formed are the following:
1. To teach the members:
a. The habit of thrift for capital build-up;
b. The fundamental of financing, personnel and business management, directors, committeemen, officers and employees as well as the general public, the nature, concept, philosophy, principle and practices of cooperatives;
c. The importance of paying their dues/loans/accounts on time;
d. To engage in farming,...
