Cooperatives decry move to repeal of its tax exemptions | BICOL TODAY

Cooperatives decry move to repeal of its tax exemptions

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By Felix ‘Boy’ Espineda, Jr.

MANILA, Philippines ( – The Philippine Cooperative Center as the apex organization of the cooperatives nationwide in coordination with Coop Natcco partylist representatives, civil society organizations, farmers group decried the intention of House Bill No. 4774 to repeal the tax exemption privileges of cooperatives safeguarded in Section 60 and 61 of RA 9520 (The Philippine Cooperative Code of 2008).

The Apex launched a simultaneous show of force nationwide (April 29, 2017) as a strong expression of unity objecting the proposal to repeal the tax exemptions of cooperatives and will lobby to congress persons in every region to make their intentions clear that they are strongly opposing the repeal.

The pending house bill repealing clause calls for the scrapping of the tax exemption covered by Articles 60 and 61(1) with respect to the Value Added Tax and Article 61(2)(b) of the cooperative code of 2008. The measure aimed to reduce poverty incidence anchored on “real positive change” of the administration.

Giving his strong support for the retention of the tax exemptions of the cooperative Anthony Bravo of the CoopNatcco Partylist sent a video message to cooperatives saying that this move is not an expression of distrust to the administration but rather a call to lift from poverty the lowest of society’s who are members of the cooperative movement.

The solon argued that it is not in the interest of the cooperative’s members who belong to the marginalize farmers, fisherfolks, micro entrepreneurs to carry the burden of additional taxes. We are happy that the Cooperative Development Authority is now under the office of the president and our struggle to free the farmers from paying the irrigation service fee was realize but fiscal manager’s focus on taxing cooperatives will waste this initial steps.

We agree on the need to further widen the coverage of government social services programs but should not be sacrificial on the part of the cooperatives. Cooperatives support expansion be it infrastructure or social services, however, he urged the finance department to review its financial enhancement program to fund national government projects by looking at other sources of revenues and leave the tax exemptions of cooperatives.

Taxing the cooperatives is a heavy burden to the farmers, fisherfolks and micro vendors who feed the nation because of their commitment as an integral developer of the countryside.

The simultaneous show of force will be followed by a national campaign on May 4, 2017 at the Quezon City Memorial Circle was timed for the resumption of the congress session. []

Posted by on May 7, 2017. Filed under Nation,Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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