TAX RELEASE. †" Every new factory industry is awarded to establish itself in the Dep. of Santa Cruz.

ENRIQUE HERTZOG G.

CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA

For the Honorable National Congress has sanctioned the Next Act:

THE H. NATIONAL CONGRESS

DECCRETA:

ArtA-cull 1o†" Any new factory industry established in the Department of Santa, Cruz, with a capital of greater than Bs.100,000.-released from payment of national, departmental and municipal taxes with the exception of of personal income, whatever their concept, for a period of three years, which will be computed from the day-to which the Industry starts to produce; but the organizational perA-ode of the FA will not be able to exceed two years. Except for these releases, the FA-Bricas of Alcohols, Spirits, Beers, Wines and Spirits Spirits.

ArtA-culo 2o.†" Are released from the national, departmental and municipal taxes and six percent. Percent on sales, except for the Services of Storage, Mobilization and Statistics, all machineries imported to the same Department for the purpose expressed in the ArtA-article First.

ArtA-ass 3o. -The constructions and buildings that are used for the operation of the new ones industries in the Department of Santa Cruz, as well as the land on which they will be lifted will also be released from all national, departmental and municipal taxes for a period of three years.

ArtA-culo 4o.†" The Executive Branch will regulate this Law.

Communicate to the Executive Branch for constitutional purposes.

Session of the H. National Congress.

La Paz, November 17, 1947.