Annual exploitation tax.
Article 64
ART. 64. Annual exploitation tax.—Each holder of an Exploitation Concession shall pay throughout the life of such concession, in the manner prescribed by the Regula-tions, an exploitation tax as follows: During the first five-year period, not less than fifty cen-tavos per hectare per year, or fraction thereof. During the second five-year period, not less than one peso per hectare per year, or fraction thereof. During the third five-year period, not less than one peso and fifty centavos per hectare per year, or fraction thereof. During the fourth five-year period, not less than three pesos per hectare per year, or fraction thereof. During the fifth five-year period, not less than five pesos per hectare per year, or fraction thereof. Thereafter, during the period or periods of its renewal, if any, not less than five pesos per hectare per year or fraction thereof, unless modified by the Secretary of Agriculture and Natural Resources.