Co-ops warn vs tax evasion if treated as private firms

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CO-OPERATIVES warn that their business model should not be structured after corporations as doing so would create loopholes for tax evasion by single-entity companies.

Although cooperatives don’t pay taxes, Co-op Chamber Trustee Marlene D.

One of the proposals is to enable federations to adopt incentive voting in their bylaws, allowing member-cooperatives to have one basic vote and up to five incentive votes.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Taxes System Incentive Cooperative Cooperatives Votes Business Model Members Chamber Voting

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-20 @ 16:08:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 488 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23139401

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 41 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

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Website Security: Secure (HTTPS)

Publisher ID: #37

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