Thursday, July 3, 2014
COOP-NATCCO PARTYLIST REP. PAEZ'S PANEL GETS CTE UPDATE
Chaired by COOP-NATCCO Partylist Rep. CRESENTE PAEZ, the House of Representatives' Committee on Cooperatives Development had asked the Bureau of Internal Revenue (BIR) about the status of issuance of Certificates of Tax Exemption (CTEs).
CTE refers to the certificate/ruling issued by the BIR granting exemption to a cooperative, which is valid for a period of five years from the date of issue.
In a reply to a query, BIR lawyer John Rainier Camba informed the Committee on Cooperatives Development that of the 23,672 cooperatives in the country, 6,850 had applied for tax exemptions in various BIR regional district offices.
Out of the total number of applications received, 6,248 were already issued CTEs.
The rest, Camba explained, were either denied (285 CTE applications) or are still pending (317 applications) for non-compliance or non-submission of requirements, including certificate of registration, and CGS from the Cooperative Development Authority, certificate of registration from the BIR, and cooperative by-laws.
(Source: House of Reps. Committee Daily Bulletin, Vol.I No. 121, June 4, 2014.)