WAIVING THE ADDITIONAL PROGRESSIVE TAXES TO BE COLLECTED FROM, AND PAID BY, PROPRIETORS AND OPERATORS OF CERTAIN SUGAR MILLS FOR THE 1948-1949 CROP.
WHEREAS, most of the sugar centrals in the Philippines, including the buildings and dwelling houses of their laborers, were damaged or destroyed during the last war;
Whereas, these sugar centrals have been incurring heavy expenditures in the rehabilitation thereof;
WHEREAS, most of said centrals have been operating at a loss as they have been producing only a fraction of their normal pre-war output at an unusually high cost of production; and
WHEREAS, the imposition of the additional progressive taxes on these centrals would be unduly oppressive and, in a few instances, even confiscatory in effect;
NOW, THEREFORE, I, ELPIDIO QUIRINO, President of the Philippines, upon the recommendation of the Sugar Rehabilitation and Readjustment Commission, do hereby waive the additional progressive taxes to be paid by proprietors and operators of the following sugar mills for the 1948-1949 crop under Section 2 of Commonwealth Act No. 567, said sugar mills having been operating at a loss:
1. Central Asturias
2. Central del Norte
3. Central Santos-Lopez
4. Luzon Sugar Company
5. Central Paniqui
6. Central Luzon Milling
The same taxes are also waived for the following sugar mills which, although operating at a profit, are still heavily indebted and need the little profits they make for their rehabilitation:
1. Bago-Medellin Milling Co. ,
2. Central de Tarlac
3. Central Don Pedro
4. Hind Sugar Company
5. Ormoc Sugar Company
6. Central Pasudeco
Done in the City of Manila, this 31st day of August, in the year of Our Lord, nineteen hundred and forty-nine, and of the Independence of the Philippines, the fourth.
(SGD.) ELPIDIO QUIRINO
President of the Philippines
By the President:
(SGD.) TEODORO EVANGELISTA
Executive Secretary
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