In May 2016, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 54-2016 in response to CDA Memorandum Circular (MC) No. 2015-08 issued by the CDA in September 2015 on the guidelines governing the issuance of Certificate of Compliance (COC), in lieu of the CGS. A COC, as defined in this circular, is the certificate issued to all types of cooperatives after complying with the rules of the CDA, in lieu of the then CGS. Through the issuance of the said RMC, the BIR aims to inform cooperatives that all revenue issuances with provisions specifically mentioning the CGS are amended or modified to conform with the CDA MC.
CORNERSTONE FOR COOPERATIVES FROM GOOD STANDING TO COMPLIANCE
Posted on June 16, 2016
