REVENUE REGULATIONS NO. 14-2011 issued on July 29, 2011 amends certain provision of Revenue Regulations (RR) No. 5-2000, as amended, prescribing the regulations governing the manner of the issuance of Tax Credit Certificates and the conditions for their use, revalidation and transfer. Section 4 of RR No. 5-2000, as amended, was modified to read as follows: “SEC. 4 ASSIGNMENT OR TRANSFER.- All Tax Credit Certificates (TCCs) issued by the BIR shall not be allowed to be transferred or assigned to any person.”