THE savings and time deposits of members of credit cooperatives are exempt from the 20-percent withholding tax, the Supreme Court has ruled.
The Court made its ruling after it rejected a Court of Tax Appeals decision saying that the Dumaguete Cathedral Cooperative was liable to pay Internal Revenue in Bacolod City P2.64 million, which represented its tax deficiency plus interest for the years 1999 and 2000.
The Court’s Second Division said the legislative branch’s intention to give cooperatives preferential tax treatment was apparent in the Cooperative Code of the Philippines. Rey E. Requejo, Manila Standard Today
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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