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November 12, 2009BIR RULING [COOP-(M-157) 205-09]RA 6938; 008-2001KAMASAROSA Multi-Purpose CooperativeSalvacion, AniniyAntiqueAttention: Ms. Geronima E. AysonBOD ChairmanGentlemen :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." CSTcEIDocuments 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...