RMC No. 45-2016 — Advises all Revenue Collection Officers not to accept checks as well as taxpayer's checks drawn from Rural Bank of Bayawan (Negros Oriental), Inc.

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPInES DEPARtMENt OF FInAnCE RECORDS MGT DIVISION BTTAYOT TNTERNAL REVENUE APR 12 2016./+ 2:180.M. Uw KN

Quezon City RECEIVED

April 6, 2016

REVENUE MEMORANDUM CIRCULAR NO 45-301L

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

BAYAWAN (NEGROS ORIENTAL),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 taxpayer's checks drawn from the RURAL BANK OF BAYAWAN (NEGROS ORIENTAL),INC. with office address at No. 807 H. Bollos Sr. St. 6221 Bayawan City, Negros Oriental in payment of internal revenue taxes as per Monetary Board Resolution No. 320 dated February 24, 2016 of the Bangko Sentral ng Pilipinas (BSP) considering that the said bank is prohibited from doing business in the Philippines and has been placed under receivership with PDIC as the designated Receiver.

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

KIM S. JACINTC-HENARES Commissioner Of Internal Revenue 1 040396