CONGRESS on Monday approved the rules for granting full tax exemptions to cooperatives to allow them to serve their members and customers better and make more money, an official said.
All cooperatives dealing exclusively with members are exempt from paying all taxes and fees, including but not limited to income tax, percentage tax, donor tax, excise tax, documentary stamp tax and the annual P500 registration fee, said Senate Majority Leader Juan Miguel Zubiri, the principal author of the new Cooperative Code.
“This is good news for the 75,000 cooperatives all over the country,” Zubiri said.
“They have long been waiting for these guidelines so they could operate more freely and easily, without worrying about financial resources.”
The code’s implementing rules were approved by the Joint Congressional Oversight Committee on Cooperatives, and those entitle all registered cooperatives to tax exemptions from their transactions with banks and insurance companies.
Electric cooperatives are exempt from the value-added tax on systems losses and in their distribution of electricity to members.
Zubiri said the rules were the result of a joint effort by the Customs Bureau and the Cooperative Development Authority to comply with the provisions of the Cooperative Code of 2008.
The rules specify the tax exemptions of the different categories of cooperatives, and in particular those doing business with members only and those doing business with both members and non-members. –Fel V. Maragay, Manila Standard Today
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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