Cooperatives to rally vs repeal of tax exemption
TUGUEGARAO CITY, Philippines – The Philippine Cooperative Center (PCC), an organization of cooperative union, federations and consortiums, will stage a series of mass actions in Isabela province this month to protest the passage of a law that will remove tax exemption privileges to coops in the country.
PCC chairman Hamilcar Rutaquio said all cooperatives would be affected if House Bill 2875 of Rep. Gabriel Luis Quisumbing and Senate Bill 2048 of Sen. Loren Legarda would be passed into law. Both bills aim to repeal Articles 60 and 61, which grant tax-free operation for all registered cooperatives.
In a manifesto issued yesterday, the PCC declared that cooperatives remitted at least P4 billion to the government through the income taxes imposed on 14 million of its workers.
The PCC added that it has started dialogues with some lawmakers to reject the bills. Among those who support the PCC stand are Rep. Rodolfo Albano III and 1BAP party-list Rep. Silvestre Bello III.
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