Coop confab kicks off

CEBU, Philippines - The Central Visayas Coop Solidarity Council composed of coop federations and unions in the region kicked off the First Central Visayas Cooperative Congress at the Waterfront Lahug yesterday.

The three-day event is held in cooperation with the Cooperative Development Authority.

Over 200 primary cooperatives and 500 coop leaders gathered for the event.

Part of the event is the launching of 2012 as International Year of Cooperatives as declared by the United Nations to highlight the contribution of cooperatives to global socio-economic development.

With theme “Transformative cooperatives advancing the people, planet, prosperity and peace for sustainable development,” the event aims to increase public awareness about cooperatives and their contribution to development.

The event also aims to promote cooperatives and encourage government to establish policies conducive to their growth and stability.

Today, topics such as the conversion of electrical cooperatives, which are not registered under CDA, will be tackled.

Only cooperatives registered under CDA can enjoy tax exemption privileges.

CDA chairman Orlan Ravanera said members of the Cebu Electric Cooperative (CEBECO) I, II, and III, Bantayan Electric Cooperative (BANELCO), and Camotes Electric Cooperative (CENELCO) are at a loss on their part.

Ravanera said that under the Republic Act 9520, electrical cooperatives will be charged with an additional 12 percent value-added tax apart from the tax that they are paying to the government. (FREEMAN)