Please be advised that:

BIR Revenue Regulations No. 006-2010 dated 29 June 2010 of the Bureau of Internal Revenue (BIR), which was promulgated to implement Section 17(c) of Republic Act No. 3591, as amended (the "PDIC Charter"), provides that the Bureau of Treasury (BTr), "other government corporations and institutions and private entities, including banks that have financial deals with PDIC shall no longer be required to withhold the withholding tax on the income/receivables of the PDIC xxx."

Hence, pursuant to the foregoing provision, member banks shall remit to PDIC the gross or full amount of assessment due on or before 31 July 2014 and semestrally thereafter.

Failure to pay in full the assessment due within the prescribed period will result to imposition of penalties and sanctions as allowed under the PDIC Charter and PDIC regulatory issuances.

For strict compliance.