Waiver of Progressive Tax for Central Santos-Lopez Co.

Executive Order No. 444 is issued by the President under the powers vested in him by law.
The waived tax is the additional progressive tax payable under Section 2 of Commonwealth Act No. 567.

The waiver is premised on findings that Central Santos-Lopez Co., Inc. is heavily indebted and operates on borrowed capital used for rehabilitation.
The waiver is also premised on findings that its district’s total sugar allotment was not fully covered due to conditions and circumstances beyond its control.
The waiver is justified by a finding that during crop year 1949-1950, the central produced only 39 per cent of its total quota allotment.
The Order declares that imposing the progressive tax for crop year 1949-1950 would be oppressive and confiscatory.

The waiver applies to Central Santos-Lopez Co., Inc.
The waiver covers the additional progressive tax for crop year 1949-1950.
The waived tax is the additional progressive tax payable under Section 2 of Commonwealth Act No. 567.

The President waives the additional progressive tax obligation of Central Santos-Lopez Co., Inc. for crop year 1949-1950.
The waiver is expressly limited to the crop year 1949-1950.

Executive Order No. 444 is based on a petition of Central Santos-Lopez Co., Inc. for waiver of the progressive tax.
The Order reflects consideration and findings made upon review of the petition for the tax year specified.

Executive Order No. 444 provides no penalty, sanction, separability clause, repeal clause, or sunset provision.