Tax Digest
Volume 10,
Series 60
Rural Banks under PDIC Receivership

The Bureau of Internal Revenue (BIR) released several revenue memorandum circulars on the 1st quarter of the 2017 regarding rural banks that are under receivership of Philippine Deposit Insurance Corporation (PDIC) through the issuance of monetary board resolutions of the Banko Sentral ng Pilipinas (BSP). Thus, collection offices are advised to no longer accept checks drawn from the following banks:

  1. Community Rural Bank of Magallon (Moises Padilla, Negros Occidental), Inc.;
  2. Rural Bank of Salinas, Inc.;
  3. Xavier-Tibod Bank, Inc. (A Microfinance Rural Bank) and its branch;
  4. Eastern Rizal (JalaJala) Rural Bank, Inc.;
  5. Countryside Cooperative Rural Bank of Batangas and its 4 branches; and
  6. Rural Bank of Barotac Viejo (Iloilo), Inc. and its 2 branches.

Revenue Memorandum Circular No. 3, 4, 6, 13, 20, & 26 – 2017
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