Annual exploration tax.
Article 49
ART. 49. Annual exploration tax.—Each holder of an Exploration Concession shall pay during the whole period of such concession and its extension or extensions if any an annual exploration tax as follows: Initial term: First year—Not less than five centavos per hectare per year, or fraction thereof. Second and third year—Not less than seven and one-half centavos per hectare per year, or fraction thereof. Fourth year—Not less than ten centavos per hectare per year, or fraction thereof. First extension: Fifth to seventh year—Ten centavos per hectare per year, or fraction thereof. Second extension: Eighth to tenth year—Twelve and one-half centavos per hectare per year, or fraction thereof.