Amendment on Tax Exemptions for Agricultural Cooperatives

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Republic Act No. 702: Amendment on Tax Exemptions for Agricultural Cooperatives

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Title Supreme Court: Amendment on Tax Exemptions for Agricultural Cooperatives

Law: Republic Act No. 702

Decision Date: May 9, 1952

Republic Act No. 702 amends the exemptions granted to cooperative marketing associations in the Philippines, allowing them to be exempted from various taxes and extending these exemptions to agricultural products in their possession or control.

amendment

organization

cooperative marketing associations

Application of Existing Agricultural Product Tax Exemptions

Exemptions that exist under other laws for agricultural products owned or controlled by individual producers are extended to cooperative marketing associations.
Such exemptions apply fully to agricultural products:
- Delivered by farmer members to the cooperative marketing association
- Held in possession or under the control of the cooperative association

Effectivity Clause

The amendment takes effect immediately upon approval, ensuring prompt application of the tax exemptions as specified in the law.

END