Summary
RMC No. 106-2017, issued on December 29, 2017, informs revenue officials, employees and others concerned that the expiry period of the Modified Disbursement System (MDS) check is reduced from six (6) months to three (3) months, per Treasury Circular No. 3-2017.
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Key points
- Shorter validity. The expiry period of MDS checks falls from six (6) months to three (3) months under Treasury Circular No. 3-2017 of the Bureau of the Treasury.
- Acceptance of MDS checks. Starting January 2, 2018, MDS checks from National Government Agencies paying taxes are not received unless they carry the words “VALID FOR THREE MONTHS FROM THE DATE OF ISSUE”.
Who is affected
- Revenue officials and employees
- National Government Agencies paying taxes by MDS check
Deadlines and effectivity
- Starting January 2, 2018: MDS checks must carry the three-month validity words
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.