Wednesday, May 15, 2013
3-MONTH "REPRIEVE" ON CO-OP AUDIT REPORTS RAISES MORE QUESTIONS
Those cooperatives who failed to submit their Performance, and Social Audit Reports, along with the CAPR, etc. last April 30, 2013 may have reason to rejoice and be thankful for the 3-month reprieve they apparently got from the Cooperative Development Authority (CDA).
On their May 14, 2013 Facebook posts, "Cda Bicol" followed/supported by "Philippine Cooperators' Page", virtually granted a 3- month reprieve to such cooperatives. In effect, these two Facebook pages announced that submissions of the above-mentioned reports from May 1, 2013 to July 31, 2013 will not be considered late nor will they be subjected to the monetary penalties imposed for late filing.
We maintain that such reprieve and penalty condonation should be issued by way of an official CDA Memorandun Circular. In the absence (as of yet) of the same, we grant, (without admitting) that these Facebook posts have official effect.
But along with the 3-month relief, some questions beg to be answered.
For example, does this CDA action also exempt, in the meantime, cooperatives from submitting their Performance, and Social Audit reports, when they file for the renewal of their Certificate of Good Standing (CGS)? The deadline for this also expired last April 30, 2013.
If this were the case, CDA must likewise say so. If this were not the case, does this mean that the deadline for the filing for the renewal of the cooperative's CGS was likewise moved up to July 31, 2013?
On the other hand, does the Bureau of Internal Revenue (BIR) has a deadline for cooperatives to submit their CGS, in compliance with the conditions of their Certificate of Tax Exemption (CTE), where the CGS is required to be submitted to BIR every year, during the 5-year effectivity of the coopetives' CTEs?
Questions, questions. The cooperatives need some answers/clarifications from CDA. So, there. (END).