RMC No. 5-2016 — Advises all Revenue Collection Officers not to accept checks, as well as taxpayer's checks drawn from Peñafrancia Rural Bank of Calabanga (Cam. Sur), Inc.

BUREAU OF INTERNAL REVENUE REPuBLIC oF tHE PHILiPPInES DEPARTMENt OF FINANCE RECORDS MGT.DVISION BUREAU OF INTERNAL REVENUE JAN 2 2 20161 1 Q:S8AM Lhgr CPI

Quezon City RECEIVED

January 14. 2016

REVENUE MEMORANDUM CIRCULAR NO. 5- N16

SUBJECT : Non-acceptance of Checks/Drawn Checks from Penafrancia Rural Bank of

Calabanga (Cam. Sur). 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 te accept checks. as we!l as taxpayer`s checks drawn from the PENAFRANCIA RURAL BANK OF CALABANGA (CAM. SUR), INC. with office address at Del Carmen St.. Calabanga, Camarines Sur, in payment of internal revenue taxes as per Monetary Board Resolution of the Banko Sentral ng Pilipinas (BSP), Resolution No. 2003 dated December 10. 2015 considering that the said bank is prohibited from doing business in the Philippines and has been piaced under receivership with PDIC as the designated Receiver.

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

KIM S. JACINTO - HENARES Commissioner of Internal Revenue 03835 1

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