Bill Type
Congress Name
Long Title
AN ACT RESTORING THE VALUE-ADDED TAX EXEMPTION PRIVILEGES OF NON-ELECTRIC COOPERATIVES, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
Date filed
May 19, 1999
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB07576 |
| FULL TITLE : AN ACT RESTORING THE VALUE-ADDED TAX EXEMPTION PRIVILEGES OF NON-ELECTRIC COOPERATIVES, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED |
| ABSTRACT : Rationale: Cooperatives are envisioned to be the main avenues for the marginalized members of society to engage in economic activities and uplift their quality of life. The imposition of the VAT on such cooepratives may limit the financial capacityof these organizations. |
| PRINCIPAL AUTHOR/S : ALVAREZ, HEHERSON T. |
| DATE FILED : 1999-05-19 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 1999-05-25 |
Abstract
Rationale: Cooperatives are envisioned to be the main avenues for the marginalized members of society to engage in economic activities and uplift their quality of life. The imposition of the VAT on such cooepratives may limit the financial capacityof these organizations.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.