Mindanao Public Consultation on the draft CDA-BIR Joint Revenue Regulation

The recently enacted Republic Act No. 9520, otherwise known as the Philippine Cooperative Code of 2008, lays down the tax and other fiscal incentives for cooperatives. However, under Article 144, par. 2 of the said law, the Cooperative Development Authority (CDA) and the Bureau of Internal Revenue (BIR) are mandated to jointly issue a revenue regulation to govern the implementation of these incentives and exemption.

It was noted that during RA 6938, the BIR enjoyed the unilateral power to issue Revenue Regulation 20-2001 regarding tax exemptions of cooperatives. Notably, under RA 9520, the CDA is mandated to participate in determining what provisions should be included in the new Revenue Regulation that would govern these incentives and exemptions. This time, Article 144, par. 2 of RA 9520 instructs the BIR and CDA to jointly issue the Revenue Regulation for this purpose.

In line with this, the CDA and BIR have already drafted the new Revenue Regulation and the same is new ready for public consultation.

For this reason, the Mindanao Public Consultation on the draft CDA-BIR Joint Revenue Regulation will be held on September 8, 2009 at the Crown Regency Residences, Cabaguio Avenue, Agdao, Davao City. A minimal registration fee of P180.00 per participant will be charged to cover the venue, snacks and materials during the activity.