QUEZON CITY – President Ferdinand Marcos Jr. underscored his call for greater investment in agriculture during his State of the Nation Address (SONA) on July 28, urging the business community: “Nanawagan pa rin ako sa ating mga negosyante: Mamuhunan kayo sa ating agrikultura!” (I am still calling on our business community to invest in agriculture!)
NATCCO celebrates 44th Founding Anniversary
NATCCO celebrates 44th Founding Anniversary The National Confederation of Cooperatives (NATCCO Network) celebrates on January 23 its 44th Founding Anniversary. As advance celebration, more than 300 co-op leaders met online for the NATCCO Managers Forum where invited authorities provided their insight on the situation of the Philippine economy. NATCCO Chairperson Marlene Celo welcomed the participants, […]
Coop Sector launches Long-Term Strategic Plan
Coop Sector launches Long-Term Strategic Plan The co-op sector is serious about taking over the economy. At an online meeting on January 19, 2021 the “Coop Sector Development Plan 2030” – with a few minor revisions and polishing – was approved by the co-op leaders. The initial draft of the Plan was formally launched during […]
Coops (and members) exempt from Documentary Stamps
Coops (and members) exempt from Documentary Stamps It is final. The Bureau of Internal Revenue (BIR) has clarified to all its personnel that co-ops need not pay for Documentary Stamps. Thanks to a “Request for Ruling” that COOP-NATCCO Partylist Rep. Sabiniano Canama filed, the BIR issued Memorandum Circular 124-2020 dated November 25, 2020. On the […]
Co-ops to issue TINs to members (TIN Series Part 3)
Co-ops to issue TINs to members (TIN Series Part 3) QUEZON CITY — The Tax Identification Number (TIN) of co-op members is very important because without it, the Bureau of Internal Revenue (BIR) cannot issue a co-op its Certificate of Tax Exemption (CTE). Co-op leaders at a series of meetings with the Department of Finance, […]
Why do co-ops have to submit TIN of members? (Part 2)
Why do co-ops have to submit TIN of members? (Part 2) At a Tax Technical Working Group (TWG) online meeting discussing co-op tax exemptions held last July 15, COOP-NATCCO Partylist Rep. Ben Canama said that “the TIN requirement on co-ops has been one of the reasons why co-ops “cannot appreciate very much the tax exemptions […]
Government Bares Menu of COVID-19 Crisis Rehab Programs for Co-ops
Government Bares Menu of COVID-19 Crisis Rehab Programs for Co-ops The Cooperative Development Authority has announced on its website the programs of the National Government that co-ops can avail of. These programs will help co-ops and their members to cope during the current COVID-19 Crisis, as well as after the crisis. With the quarantine being […]
DA, DILG: Co-ops, farmers may continue operating during ECQ
DA, DILG: Co-ops, farmers may continue operating during ECQ Why are some co-ops unable to operate and forced to close during the quarantine? This was the question asked by co-op leaders at an online meeting between the Cooperative Development Authority (CDA), COOP-NATCCO Partylist, and the Philippine Cooperative Center (PCC), and representatives of NATCCO primary co-operatives. […]
Ravanera insists co-ops are automatically tax exempt
Ravanera insists co-ops are automatically tax exempt QUEZON CITY – The blame-game is on. Bureau of Internal Revenue officials say they merely implement the rules, and that they have informed their officials all over the country to do the same. The question is whether the CDA has informed co-ops. On November 5, COOP-NATCCO Partylist Representative […]
Co-op leaders, BIR form TWG to streamline tax exemptions
Co-op leaders, BIR form TWG to streamline tax exemptions For the first time in recent memory, officials of the Bureau of Internal Revenue (BIR) – the government agency for tax collection –on December 9 had formal talks with co-operatives on how to ease or facilitate the procedures in obtaining the Certificate of Tax Exemption (CTE). […]