December 11, 2009
BIR RULING [COOP-(M-162) 772-09]
RA 6938; COOP(M-051)222-2008
Southern Leyte State University Credit Cooperative
(formerly Southern Leyte State College of Science
and Technology Credit Cooperative)
SLSU, Sogod, Southern Leyte
Attention: Mr. Jessie A. Cola
Chairman, Board of Directors
Gentlemen :
This refers to your letter dated January 9, 2008, which was received by this Office by way of 1st Indorsement dated February 27, 2008 of Revenue District No. 90, Maasin City, Southern Leyte, requesting for a tax exemption under the provisions of Republic Act (R.A.) No. 6938, otherwise known as the Cooperative Code of the Philippines. SHECcD
It appears that SOUTHERN LEYTE STATE UNIVERSITY CREDIT COOPERATIVE with TIN 005-356-440 is a credit cooperative with Certificate of Registration No. TAC-1949 dated March 8, 1999 from the Cooperative Development Authority (CDA); that the cooperative deals with members only; that the objectives and purposes for which it was formed are those set forth in its Articles of Cooperation and those generally granted to cooperatives under R.A. 6938.
In support of your request and in compliance with Section 8 of Revenue Memorandum Circular No. 48-91 dated June 18, 1991,...
