December 21, 2009
BIR RULING [COOP-(M-168) 801-09]
R.A. No. 6938
Mariveles Public Market Development Cooperative
Public Market, San Carlos,
Mariveles, Bataan
Attention: Mr. Herminio H. Espino
Chairman
Gentlemen :
This refers to your letter dated August 5, 2008 requesting tax exemption of Mariveles Public Market Development Cooperative (MPMDC) under the provisions of R.A. No. 6938, otherwise known as the "Cooperative Code of the Philippines."
Documents submitted disclosed that MPMDC with Taxpayer Identification No. 005-859-491-000, with principal address at Public Market, San Carlos, Mariveles, Bataan, is a cooperative duly registered with the Cooperative Development Authority with Registration No. PGA-4167 dated August 31, 2001; that the objectives and purposes for which it was formed are the following:
1. To encourage thrift and savings mobilization among members for capital formation;
2. To create funds in order to grant loans for productive and providential purposes to its members;
3. To provide goods and services and other requirements of the members;
4. To engage in market management and janitorial services;
5. To promote the cooperative as a way of life for improving the social and economic well-being of the people; acEHSI
6. To do any...
