Cornerstone for cooperatives | KPMG | PH

Cornerstone for cooperatives from good standing to compliance

Cornerstone for cooperatives

by Maria Emma Gille A. Mercado

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cornerstone for cooperatives from good standing to compliance

The Philippines recognizes the potential of cooperatives as one of the pillars for economic growth for the Filipinos and for our country. They are no different from other business organizations, like corporations and partnerships, which are designed to operate for purposes of financial and economic gain. However, in order to encourage the creation and growth of cooperatives, they are accorded certain privileges and incentives under the law.

To avail of the privileges, cooperatives must get hold of a Certificate of Good Standing (CGS) from the Cooperative Development Authority (CDA). A CGS is a certificate issued to operating cooperatives that have complied with the mandatory requirements provided under laws issuances which entitle them to avail incentives and privileges granted to them.

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