Last September 2015 the Coop sector was disturbed because of the two lawmakers Rep. Gabriel Luis Quisumbing’s HB 2765 and Sen. Loren Legarda’s SB 2048 expressly propose the repeal of the law granting tax exemption privileges to cooperatives.
It is very clear in the new cooperative code, Articles 60 and 61 of Republic Act 9520 which gives cooperatives the privilege of tax exemption. Transactions from members are among the non-taxable income of cooperatives.
Cooperatives have enjoyed that privilege for many years and because of the “Politicos” who don’t have the heart of the Coop, they don’t even count the things that the cooperative movement has done to the economy in wealth re-distribution, poverty alleviation and nation building.
In other countries, the coop sector has in place legislator that will shield Coop agenda from ungrateful lawmakers. Their existence will spoil the existing code and hamper cooperatives in pursuing their goals in uplifting the members in rural and urban areas.
Cooperative’s silence and neutrality is being threatened by bills that might crop up from time to time which jeopardize the very reason why Coops exist. The anxiety of the Coop leaders is for the tax exemption privilege to vanish, and supersede by the 30% withholding tax. If this happens, can we survive?
In May 2016 election, FICCO calls members to declare this stand. Silence must be set aside and try a new approach that will ensure a lifetime privilege to protect the cause of the movement. FICCO has to support candidates that will bring voice, aspiration and more worthy values for the movement.
Coops found these personalities for they have expressed their concern for the coop sector in terms of tax exemption, owning public utilities and programs for the poor and least fortunate.
Don’t forget the following names when you cast your votes, please give utmost priorities to the following candidates and the rest of that will be your personal choice.
1. Leni Robredo for Vice President, visited FICCO last January 2016 and promise to support Coop plans and programs.
2. Chriz Paez the “coop man” under the Liberal party. The only Senator bringing the coop Movement In the senate.
3. Migs Zubiri author of the Cooperative Code of 2008, has vowed to forcefully fight off any bid to strip the country’s almost 25,000 cooperatives of their tax exemptions and other privileges.
4. Ralph Recto –who objected on the tax exemption bill filed by the two lawmaker Rep. Quisumbing’s HB 2765 and Sen. Legarda’s SB 2048 expressly propose the repeal of the law granting tax exemption.
Of the 21 senatorial and 5 vice presidential candidates FICCO requested only 3 and please don’t forget Congressman Leni Robredo also for Vice President. Let’s express the FICCO power, Prove that FICCO has the votes, this is the time to put words into action let’s “leverage our numbers” and “in unity there is strength”. Please help FICCO to campaign in our circle of influences, relatives, friends, neighbors, office mates etc. Prove that FICCO has a clout and authority to win a candidate.