Exemption from Income and Business Taxes Granted to Cooperative

September 25, 1990 BIR RULING NO. 191-90 024 000-00 191-90 Gentlemen : This refers to your letter dated May 8, 1990 requesting clarification as to whether BIR Ruling No. 253-88 dated June 8, 1988 issued by this Office to Minalin Poultry and Livestock Cooperative of Sta. Rita, Minalin, Pampanga, can be used as basis in exempting said cooperative from the withholding tax on interest income from its deposit accounts with you. In reply, please be informed that your query is answered in the negative. It will be noted that the exemption from income and business taxes granted to the said cooperative by virtue of said ruling covers only its activity of providing for a fee, machineries and equipment to its members for purposes of processing their feed ingredients. Obviously, it does not cover exemption from the withholding tax on its deposit accounts with you. cdt Very truly yours, (SGD.) JOSE U. ONG Commissioner