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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.

© 2020 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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