Payment under protest.
Section 62
SEC. 62. Payment under protest.— (a) When a taxpayer desires for any reason to pay his tax under protest, he shall indicate the amount or portion thereof he is contesting and such protest shall be annotated on the tax receipts by writing thereon the words "paid under protest". Verbal protests shall be confirmed in writing, with a statement of the ground, therefor, within thirty days. The tax may be paid under protest, and in such case it shall be the duty of the Provincial, City or Municipal Treasurers to annotate the ground or grounds therefor on the receipt. In case of payments made under protest the amount or portion of the tax contested shall be held in trust by the treasury and the difference shall be treated as revenue In the event that the protest is finally decided in favor of the government, the amount or portion of the treasurer and the difference shall be treated as revenue. In the event that the protest is finally decided in favor of the government, the amount or portion of the tax held in trust by the treasurer shall accrue to the revenue account, but the protest shall be decided finally in favor of the protestant, the amount or portion of the tax protested against may either be refunded to the protestant or applied as tax credit to any other existing or future tax liability of the said protestant.