Councilor calls opposition to tax coops

ABUCAY, Bataan – Mariveles Councilor Tito Catipon has called cooperatives in the province to oppose a move in Congress to repeal the tax exemption law to cooperatives during the Cooperative Month Celebration here on Friday.

“Please lobby to your respective Sangguniang Bayan in your town to pass a resolution against the move to tax cooperatives”, he urges local cooperatives.

“Through my initiative as Chairman of the Committee on Cooperatives, the Mariveles SB is set to pass a resolution opposing this move”, he added.

“The Sangguniang Panlalawigan will also pass the same resolution as assured to us by Board Member Dante Manalaysay, SP Chairman of the Committee on Cooperatives, who is also here”, Catipon announced.

He said many cooperatives in the country already voiced their opposition to a move in Congress to repeal a law giving tax exemption to cooperatives. The cooperatives are particularly wary on the provision of the proposed law that seeks to repeal sections 60 and 61 of the Cooperative Code of the Philippines (Republic Act 9520).

These provisions give cooperatives tax exemption privileges, among the non-taxable income of cooperatives are those derived from transactions with its members.