Non-Acceptance of Checks/Drawn Checks from Rural Bank of Bayawan (Negros Oriental), Inc. (A Closed Bank) by Revenue Collection Officers

April 6, 2016 REVENUE MEMORANDUM CIRCULAR NO. 045-16 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. All internal revenue officials and employees concerned are hereby enjoined to give this Circular as wide a publicity as possible. (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue