TAXATION OF COOPERATIVES

Taxation of Cooperatives

Description:  Comprehensive discussion on the basic principles and guidelines on taxation of cooperatives.

Objectives

  • To understand the applicable tax laws, regulations and jurisprudence on taxation of cooperatives.
  • To learn the bases on when is a cooperative taxable in terms of income tax, VAT, and other taxes.
  • To learn how to compute for the income tax and VAT on transactions of cooperatives.
  • Open Forum

Raymund J. Manaig, CPA, MBA

Areas of Practice
Education
Areas of Practice
  • Tax Consultancy and Advisory
  • Tax Review Lectures
  • Handling BIR Investigations
  • Corporate Services
  • Tax Compliance Review and Tax Returns Preparation and Filing
  • Conducts CPD Seminars and Trainings on Taxation Cloud Accounting Software
  • External Audit of Financial Statements
  • Fraud/Special Audits and Internal Audits
  • ICPA for Tax Refund Cases with the Court of Tax Appeals
  • Other Assurance and Non-Assurance Services
    Sector Expertise
  • A generalist with expertise in Philippine taxation on PEZA/BOI Entities, Information Technology,
    Agriculture,Trading, Manufacturing and Services.
Education
  • He graduated from De La Salle University Taft, Manila last September 2003 with a Masters degree on
    Business Administration.
  • He Graduated as Cum Laude and Rector’s Awardee in Colegio de San Juan de Letran-Calamba last
    March 1995

Raymund is the managing partner of Manaig, Manaig & Co., CPAs (MM&Co.) and has been in the practice for more than 20 years. His firm currently has 22 staffs, 70% of which are CPAs. In October 2016, his firm was promoted as a Certified Xero Advisor Gold Partner. Moreover, his firm is a member of IECnet since September 2017, https://iecnet.net/, an international association of accountants, auditors and tax consultants.

Prior to establishing MM&Co., he worked for 3 yrs as a staff auditor and tax accountant with Bondoc, Wong & Co., CPAs, Makati Philippines. He worked with a D.M. Consunji for 2 years as a senior accountant. He also had a 4 year service delivery experience at Procter & Gamble Asia PTE Ltd. as a process owner handling disbursements, affiliate transactions and accounts payable. Then, he started practicing the public accounting profession as a sole practitioner in 1999. Simultaneously, he started his own businesses: computer rentals and restaurant in the same year while doing part-time/full-time teaching work at Colegio de San Juan de Letran from 1997 up to 2006 teaching Basic Accounting, Managerial accounting, Auditing Theory and Auditing Problems. Then, he also became a part-time assistant professor in City College of Calamba teaching Auditing Theory and Auditing Problems—in both schools, total of 9 years teaching experience. Now, he is also currently an “enhancement” tax reviewer for CPA reviewees at LCRC- Laguna, a CPA review center in Calamba Laguna established in July 2017 of which he is the president and review director.

As a managing partner of MM&Co. whose main role aside from management, is in the area of taxation, he provided tax advisory services to both local and international clients. He handled various Letter of Authorities,
Letter Notices and Tax Verification Notices involving determination of clients’ compliance with tax rules and regulations and has represented clients in tax cases before the Bureau of Internal Revenue in various Revenue District Offices (RDOs). He has addressed queries on tax and other corporate concerns; handled registration, reorganization and other requirements for doing business in the Philippines; and conducted tax seminars with CPD units for his clients as well as with non-clients.

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