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Taxation Updates For Coops - 0
Taxation Updates For Coops - 0
COOPERATIVES
To review:
> the tax exemption provisions of COOP
Code vis-à-vis the NIRC and the LGC; and
> the COOP BIR compliance requirements.
VAT EXEMPTIONS
1. VAT Taxpayers
1.1 12% VAT taxpayers Electric COOPs
1.2 0% VAT taxpayers
Income Tax :
NEA-registered - Exempt w/in 30 years
CDA-registered -
dealing w/ members – Exempt
dealing w/ non-members – Exempt w/in
10 years on business with non-members
Value-Added Tax :
NEA and CDA registered - Subject to 12 %