Negotiable Certificates of Indebtedness Cannot be Applied in Payment of Tax
BIR Ruling No. 641-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Nov 10, 1958
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November 10, 1958 BIR RULING NO. 641-58 Mr. Macario Peralta Attorney-at-Law 20 South E, Quezon City S i r : In connection with the estate tax of the estate of the late Asuncion R. Kasilag which you are offering to pay by negotiable certificates of indebtedness, I have the honor to inform you that said negotiable certificates of indebtedness cannot be applied in payment of said tax. This is for the reason that back pay can be applied only in payment of taxes which are the personal liabilities of the back pay recipients. LexLib Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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