Certificate for Cooperatives Maintaining Savings Deposits with Any Bank
BIR Ruling No. 510-88 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 14, 1988
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October 14, 1988 BIR RULING NO. 510-88 24 369-88 510-88 Gentlemen : This refers to your letter dated August 11, 1988 requesting a withholding tax exemption certificate for cooperatives maintaining savings deposits with any bank. In reply, please be informed that your request cannot be granted for lack of legal basis. Executive Order No. 93 effective March 10, 1987 withdrew all tax and duty exemption privileges granted to government and private entities. However, implementation of said Executive Order insofar as electric, agricultural, irrigation and waterworks cooperatives are concerned was suspended until June 30, 1987 (Memorandum Order No. 65 dated January 21, 1987 of the President). Very truly yours, (SGD.) EUFRACIO D. SANTOS Deputy Commissioner
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