RMC No. 120-2016 — Advises all Revenue Collection Officers not to accept checks as well as taxpayer's checks drawn from Rural Bank of Luna (Isabela), Inc.

REPUBLIC OF THE PHILIPPINES FHREAU OF INTERNAL REVENUE

DEPARTMENT OF FINANCE HECORDS MGT. DIVISION BUREAU OF INTERNAL REVENUE NOV 2 4 2016 /+ 8'5DPM lMUaA

RECEIVED

November 14.2016

REVENUE MEMORANDUM CIRCULAR NO. 1&0-301

SUBJECT : Non-acceptance of Checks/Drawn Checks from Rural Bank of Luna (Isabela), Inc. (A Closed Bank) by Revenue Collection Officers

TO All Revenue Collection Officers (RCOs)/ Special Collection Officers (SCOs)/Collection Officers (COs) and Others Concerned

taxes as per Monetary Board Resolution of the Banko Sentral ng Pilipinas (BSP), Resolution No. 1777.A dated October 6, 2016 considering that the said bank is prohibited from doing (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 LUNA (ISABELA), INC. with office address at Harana, Luna, Isabela in payment of internal revenue business in the Philippines and has been placed under receivership with PDIC as the designated Receiver. For the information and guidance of all concerned, all Revenue Collection Officers

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

uaA CAESAR R. DULAY

- Commissioner of Internal Revenue * 002262