October 22, 2009
BIR RULING [COOP-(M-151) 665-09]
R.A. No. 6938; Coop (M-011) 037-2009 dtd. 1/27/2009
Mega Multi-Purpose Cooperative
Brgy. Labit, Villasis
Pangasinan
Attention: Mr. Nicumar Leo R. Blanco
Gentlemen :
This refers to your letter dated August 17, 2009 requesting for a Certificate of Tax Exemption under the provisions of Republic Act No. 6938, otherwise known as the "Cooperative Code of the Philippines".
It is represented that MEGA MULTI-PURPOSE COOPERATIVE with TIN No. 268-327-389-000 is a multi-purpose cooperative with Registration No. DAG-5203-XL on December 16, 2008 issued by the Cooperative Development Authority; that it transacts business with members and non-members; that the purposes for which it was formed, among others are:
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 purpose to its members;
3. To promote the cooperative as a way of life for improving the social and economic well-being of the people.
Further, it has submitted to this Office in support of its request and in compliance with Section 8 of Revenue Memorandum Circular No. 48-91 dated June...
