RMC No. 04-2017 — Advises all Revenue Collection Officers not to accept checks as well as taxpayer's checks drawn from Rural Bank of Salinas, Inc.

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

December 22, 2016

REVENUE MEMORANDUM CIRCULAR NO. 4-017

SUBJECT :Non-acceptance of Checks/Drawn Checks from RURAL BANK OF SALINAS

INC. (A Closed Bank) by Revenue Collection Officers

TO : All Revenue Collection Officers (RCOs)/ Special Collection Officers

(SCOs)/Collection Officers (COs) and Others Concerned

For the information and guidance of all concerned, all Revenue Collection Officers (RCOs)/Special Collection Officers (SCOs)/Collection Officers (COs) are hereby advised not to accept checks, as well as taxpayers' checks drawn from the RURAL BANK OF SALINAS, INC. with office address at Marseilla St. Brgy. Muzon, Rosario, Cavite, in payment of internal revenue taxes. This is in conformity with the Bangko Sentral ng Pilipinas' (BSP) Monetary Board Resolution No. 1987. A dated November 11, 2016, prohibiting the subject bank from doing business in the Philippines and placing it under receivership with the Philippine Deposit Insurance Corporation (PDIC) as the designated receiver, as stated in the letter dated November 11, 2016 of the Vice-President, Receivership and Bank Management Group of PDIC.

All internal revenue officials and employees concerned are hereby enjoined to give this Circular as wide a publicity as possible.

MacMAy CAESAR R. DULAY

J-I BUREAU OF INTERNAL REVENUE Commissioner of Internal Revenue 002785

RECORDS MGT. DIVISION 10:43 A.M

JAN 0 5 2917

NN4A RECFIVED