COOPERATIVES in Region 1 are closing ranks to stop attempt to lift their groups’ tax exemption privileges through moves to repeal Articles 60 and 61 of the Republic Act 9520 or the Cooperative Code of the Philippines.

This was in reaction to revelation of Cooperatives Development Authority (CDA) Region 1 Director Josefina Bitonio during the consultation meeting of cooperatives in the region held in Dagupan City last April 8, 2016.

She said there was a move in the House of Representatives and the Senate to remove cooperatives’ tax exemption and added that tax forums are being organized all over the country to say no to the repeal of articles 60 and 61.

She said 80% of the cooperatives in Region 1, geared at helping specifically the poor through micro-financing and consequently promoting livelihood and entrepreneurship opportunities, are small or with funds that are P3 million and below and would greatly suffer from the almost 30% tax. (Johanne Macob)

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