Issue of June 11, 2017
     
NEWS
Benguet
Kalinga
Mt. Province
 
OPINION
 

Plus Juan
 
Other Links:
Plea opposing lifting of tax exemption on coops backed
by PIO release

The city council approved a resolution opposing the passage of a bill lifting the tax exemptions of cooperatives.

The resolution authored by Vice Mayor Edison R. Bilog and Councilor Arthur Alad-iw stated repealing the tax exemption granted to cooperatives will defeat the objective of establishing cooperatives and the intent of the Constitution mandating the creation of the Cooperative Development Authority to advance the status of cooperatives in the countryside as a vehicle for socio-economic growth.

Section 15, Article 12 of the Constitution stated that it shall be the policy of the State to promote the viabi-lity and growth of cooperatives as instruments of equity, social justice, and economic development.

The resolution added the local government supported the vision, mission, and objectives of cooperatives in the city is against the bill lifting the tax exemption privileges of cooperatives as it will interrupt the growth of the cooperative sector and affect its members.

Under Republic Act 9520 or the New Philippine Cooperative Code which amended RA 6938, cooperatives with assets of not more than P10 million are exempted from all national, city, municipal or barangay taxes as well as from customs duties, advance sales, or compensation taxes on their importation of machineries, equipment, and spare parts.

Pending before Congress are bills on the rationalization of fiscal investment incentives which seek to repeal articles 60 and 61 of RA 9520 which extends cooperatives tax exemption privileges.

Based on data obtained from the CDA, the membership of cooperatives around the country reached over 14 million.

Although cooperatives are taxed in various ways including education and trainings, the resolution noted there are pending bills on the realization of tax reforms that will remove the tax privileges of cooperatives.

Even if taxes are the lifeblood of the government, the resolution pointed out that programs and policies should bow to the principles of social justice as the repeal of the tax exemption will greatly affect those belonging under the micro and small enterprises which make up 80 percent of the total number of cooperatives in the country.


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