TAXATION FOR COOPERATIVES AND NGO'S,

NON-STOCK NON-PROFIT ORGANIZATIONS

ATTENTION: Accounting and Finance Department, Administrative Officers, HRD, Business Owners/Employers

 

Available Webinar Schedule

22 September 2020 | Tuesday | 5:00pm-7:00pm

06 October 2020 | Tuesday | 5:00pm-7:00pm

(via Zoom)

I. TAXATION FOR THOSE UNDER SECTION 30

  • Labor, agricultural or horticultural organization not organized principally for profit;

  • Mutual savings back not having a capital stock represented by shares, and cooperative bank without capital stock organized and operated for mutual purposes and without profit;

  • A beneficiary society, order or association, operating for the exclusive benefit of the members such as fraternal organization operating under the lodge system, or mutual aid association or a non-stock corporation;

  • Cemetery company owned and operated exclusively for th benefit of its members;

  • Non-stock corporation or association organized and operated exclusively for religious, charitable, scientific, athletic, or cultural purposes, or for the rehabilitation of veterans;

  • Business league chamber of commerce, or board of trade;

  • Civic league or organization not organized for profit, but operated exclusively for the promotion of social welfare;

  • A non-stock and non-profit educational institution;

  • Government educational institution;

  • Farmers or other mutual typhoon or fire insurance company, mutual ditch or irrigation company, mutual or cooperative telephone company, or like organization of a purely local character,

  • Farmers, fruit growers, or like association organized.

II. CLASSIFICATION OF COOPERATIVES ACCORDING TO THE EXTENT OF THE TAX EXEMPTIONS GRANTED

  • Those duly registered cooperatives which transact business with members only; and

  • Those duly registered cooperatives which transact business with both members and non-members

    • Cooperatives with accumulated reserves and undivided net savings of not more than 10M​

    • Cooperatives with accumulated reserves and undivided net savings of more than 10M

  • TAXABILITY OF UNRELATED INCOME OF COOPERATIVE

    • Notwithstanding the foregoing, all income of cooperatives not related to the main/principal business/es under its Articles of Cooperation shall be subject to all the appropriate taxes under the NIRC, as amended.

    • Prescribes the policies and guidelines in the issuance of Certificate of Tax Exemption of Cooperatives and the monitoring thereof

    • Taxes to be paid other than those in the exemption transactions such as capital gains tax, DST, etc.

    • CDA to refrain from registering the cooperatives (i.e. as labor contracting, professional, construction, mining and other cooperatives similarly created) and conduct inspection examination and/or investigation and to verify complaints that the cooperatives previously registered where used as tax shield which could be considered as fraudulently registered, one of the grounds fo cancellation and revocation of Certificate of Registration

    • Certificate of Good Standing

III. COMPLIANCE REQUIREMENTS

  • Registration

  • Registration of books and receipts

  • Filing of required returns

 

IV. OTHER ISSUES AND CONCERNS

 

COVID-19 PROMO: Php. 1,000.00 (Inclusive of eCertificate)

ORIGINAL WEBINAR FEE: Php. 2,000.00

Avail of this Webinar for only Php. 1,000.00 compared to the on-site seminar of Php. 3,500.00

(Payment made through bank deposit atleast 1 day [cut-off time: 3:00pm] before the seminar)

(Credit Card payments are accepted via PayPal)

*Please make all check payments payable to "IPG Training Institute for Professional Advancement"

© 2012-2020 by IPG Training Institute For Professional Advancement. All rights reserved.

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