Law Summary
Purpose
This Executive Order aims to reduce the 1952 taxes on all real properties located in the Province of Masbate, addressing public interest as articulated by President Elpidio Quirino.
- Issued by: President Elpidio Quirino
- Date: May 08, 1953
- Authority: Based on the powers vested by Section 53 of Commonwealth Act No. 470, as amended by Commonwealth Act No. 504.
Tax Reduction
The Executive Order remits 50% of the 1952 taxes on real properties within Masbate.
- Reduction Offered: 50% of the 1952 taxes.
- Condition for Reduction: Payment of all unpaid taxes and penalties for 1951 and prior years, as well as the remaining 50% of the 1952 taxes.
Payment Requirements
To qualify for the tax reduction, specific payment requirements must be met by property owners.
- Outstanding Taxes: All unpaid taxes and penalties from 1951 and earlier must be settled.
- Remaining Taxes: The other 50% of the 1952 taxes must also be paid.
Deadline
There is a critical deadline for compliance with the payment requirements detailed in the Executive Order.
- Deadline for Payment: All required payments must be completed on or before May 31, 1953.
Consequences of Non-Compliance
Failure to adhere to the payment requirements may lead to the loss of the tax reduction benefit.
- Implications: Failure to pay the outstanding amounts by the deadline may result in the full tax liability remaining enforceable.
Cross-References
This Executive Order references Commonwealth Act No. 470 and Commonwealth Act No. 504, which provide the legal basis for the tax remission authority.
Key Takeaways
- Executive Order No. 592 provides a 50% tax reduction on 1952 real property taxes in Masbate.
- Property owners must pay all outstanding taxes and penalties from previous years, as well as the remaining 50% of the 1952 taxes, by May 31, 1953.
- Non-compliance with these payment conditions negates the tax reduction.
- Legal authority for this Executive Order is derived from specified Commonwealth Acts.