BIR Ruling No. 002-62

January 10, 1962 BIR RULING NO. 002-62 2nd Indorsement Returned to the Regional Director, Regional District No. 2, San Fernando, Pampanga, the within papers bearing on the payment by the La Mallorca-Pambusco, that municipality, of the common carrier's tax by means of Negotiable Certificate of Indebtedness No. 16337. It is informed that before Opinion No. 69, s. 1959, of the Secretary of Justice was rendered, this Office had an understanding with the then Secretary of Finance that negotiable certificates of indebtedness issued under R. A. No. 304, as amended, could be accepted in payment of internal revenue taxes due from the assignees or indorsees thereof. The acceptance of the certificate in question was in pursuance of said understanding. Opinion No. 69 was rendered on April 27, 1959, while the payment was made on March 13, 1959. Accordingly, the payment in question, for all intents and purposes, is valid. casia MELECIO R. DOMINGO Commissioner of Internal Revenue