December 22, 2009
BIR RULING [COOP-(M-170) 809-09]
R.A. No. 6938; Coop (M-011) 037-2009 dtd. 1/27/2009
Bagong Buhay ng Mabini Multi-Purpose Cooperative
Mabini, Sto. Domingo, Nueva Ecija
Attention: Florencio G. Sudoy
Chairman
Gentlemen :
This refers to your letter dated November 25, 2009 requesting for a tax exemption under the provision of Republic Act (R.A.) No. 6938, otherwise known as the Cooperative Code of the Philippines.
It appears that Bagong Buhay ng Mabini Multi-Purpose Cooperative is a multi-purpose cooperative duly registered with the Cooperative Development Authority (CDA) under Certificate of Registration No. 5450 dated December 13, 2005 with Taxpayer Identification Number (TIN) 242-910-786; that it transacts business with members and non-members; that it was issued a Certificate of Good Standing by the CDA dated April 14, 2009; that the primary objectives for which it was formed are as follows:
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 purposes to its members;
3. To provide goods and services and other requirements to the members;
4. To undertake agricultural and/or industrial production...
