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August 26, 2009BIR RULING [COOP-(M-128) 527-09]RA 6938; COOP(M-051)222-2008Pateros Public School Teachers MultiPurpose CooperativePateros Elementary School,Pateros, Metro ManilaAttention: Ms. Ligaya T. CapcoBOD, SecretaryGentlemen :This refers to your letter dated September 1, 2008, requesting for a tax exemption under the provisions of Republic Act (R.A.) No. 6938, otherwise known as the Cooperative Code of the Philippines. It appears that PATEROS PUBLIC SCHOOL TEACHERS MULTI-PURPOSE COOPERATIVE with TIN 208-851-331-000 is a multipurpose cooperative with Certificate of Registration No. L-623-1493 dated March 12, 1998 from the Cooperative Development Authority (CDA); that the cooperative deals with members only; 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;2. To provide quality consumer goods and services and requirements of the members;3. To create funds in order to grant loans for productive and providential purposes of its members; 4. To promote the cooperative as a way of life for improving the social and economic well-being of the people;5. To do any related activity for the members self-government, improve...