THE Cooperative Development Authority-Davao Region (CDA-Davao) announced a one-time amnesty grant for regional cooperatives.
Lawyer Earl Larroder, CDA-Davao's legal officer, disclosed during the Kapihan sa PIA on Friday, February 2, 2024, that eligible cooperatives include those with show-cause orders and those issued with dissolution.
The amnesty allows the waiver of penalties for non-payment.
Larroder said that the CDA board of directors will soon publish and approve the amnesty program, which will be open until April 30, 2024.
Beyond this date, applications will not be accepted. Out of approximately 1,000 cooperatives in the region, only 800 are compliant, with the remaining 200 facing show-cause orders or dissolution.
Compliance, indicated by a Certificate of Compliance (COC), enables cooperatives to benefit from tax exemptions and business permits, essential for their functioning as business entities.
To avail of the program, cooperatives must undergo auditing by a CDA auditor to assess financial capability.
Additionally, at least 75 percent or three-fourth of its members, not less than 15 individuals, must attend re-orientation seminars.
Required documents for the program include a letter request for revival, minutes of the general assembly meeting approving revival, a list of interim officers, a membership list with addresses and share amounts, an audited financial statement from the preceding year, a three-year revival business plan, and a favorable endorsement from a cooperative development specialist.
Exempted from the program are cooperatives with cancellation orders or pending appeals outside CDA.
Larroder highlighted the program's benefits, such as staggered payments and a final opportunity for non-compliant cooperatives to regain compliance.
Cooperatives not participating in the amnesty program will face automatic cancellation, requiring asset liquidation and operational cessation. RGP