November 12, 2009
BIR RULING [COOP-(M-157) 205-09]
RA 6938; 008-2001
KAMASAROSA Multi-Purpose Cooperative
Salvacion, Aniniy
Antique
Attention: Ms. Geronima E. Ayson
BOD Chairman
Gentlemen :
This refers to your letter dated December 10, 2008 requesting for a Certificate of Tax Exemption under the provisions of Republic Act (R.A.) No. 6938, otherwise known as the "Cooperative Code of the Philippines." CSTcEI
Documents submitted disclosed that KAMASAROSA Multi-Purpose Cooperative with Taxpayer's Identification No. 262-113-381-000 is a multi-purpose cooperative; that it is registered with the Cooperative Development Authority with Registration No. ILO-1653 dated July 2, 1993; that it is transacting business with members only; that a Certificate of Good Standing has been issued in its favor by Atty. Arnel D. Agrasada, Extension Office Director, Cooperative Development Authority, Iloilo Extension Office; and that the objectives and purposes for which it was formed are the following:
1. To encourage thrift and savings mobilization among the members for capital formation;
2. To create funds in order to grant loans for productive purposes to its members;
3. To provide goods and services and other requirements of the members;
4. To undertake agricultural and/or industrial production...
