Abstract
The Cooperative Development Authority of the Philippines Chairman, Usec. Orlando R. Ravanera, declared that since the founding of the Rochdale Cooperative in England in 1884, different countries have adopted the cooperative form of organization that resulted in significant economic gains and social development. However, to facilitate cooperative activities, laws must provide tax exemptions to cooperatives. Scholars like Bundang claimed that tax exemptions of cooperatives must be strengthened to promote self-reliance among the members and to enable them to harness their capabilities towards the attainment of economic development and social justice. In view of the foregoing, it is worth exploring the tax exemptions of cooperatives in some countries to determine if different governments recognize the importance of these exemptions in cooperatives’ growth. The study will use systematic integrative literature review of documents that would be searched from databases such as Google scholar and JSTOR. Findings in this research could offer policy makers, especially those in the Philippine Congress, insights on the importance of cooperatives as partners in community and nation-building by different governments across the globe. Thus, to appreciate the role of cooperatives to the Philippine economy, especially during this COVID 19 pandemic, the two provisions in the Philippine Cooperative Code of 2008 that provide for the tax exemption and tax treatment of cooperatives are hopefully not repealed.
Presenters
Belinda S. MandigmaResearcher, Graduate School Professorial Lecturer, Research Center on Social Science and Education; Graduate School, University of Santo Tomas, Philippines
Details
Presentation Type
Theme
KEYWORDS
Non-profit, Cooperatives, Tax exemptions, Economic gains, Social development
