August 24, 2009
BIR RULING [COOP-(M-126) 515-09]
RA 6938; ECCP-02-2002
Limay Vendors Credit Cooperative
2nd Floor, Limay Public Market
Limay Bataan
Attention: Mr. Ariel C. Laureano
LVCC Manager
Gentlemen :
This refers to your undated letter requesting for a tax exemption under the provisions of R.A. No. 6938, otherwise known as the Cooperative Code of the Philippines.
It appears that LIMAY VENDORS CREDIT COOPERATIVE is a multipurpose cooperative with Certificate of Registration No. PGA-3838 dated June 15, 2000 from the Cooperative Development Authority (CDA); that the cooperative deals with members and non-members; that the objectives and purposes for which you were formed, among others, are as follows:
1. To encourage thrift and saving mobilization among the members;
2. To create funds and grant loans to members for productive and providential purposes;
3. To provide related services to enable its members to maximize benefits from such loans;
4. To promote the cooperative as a way of life for improving the social and economic well-being under a truly just democratic society.
and that you have submitted to this Office in support of your request and in compliance with Section 8 of...
