MEXICAN PISHERY LEGISUTION 



APPENDIX Xm 



DECREE WHICH CONCEDES EKEliPTIGN OF TAXES TO COCM'ERATIVE SOCIETIES 

 Signed December 27/ 1938. Published December 30, 1938. 



Article 1. Cooperative societies legally constituted, shall be exempt from payment of 

 the following taxes for a period of five years: 



1. Cti production and introduction of electric energy. 



2. Stamp tax. 



3. On mining claims. 



4.. On metal production and metallic con^jounds. 



5. On the use and utilization of federal waters. 



6. On fishing and diving. 



7. On hunting, 



8. Income tax. , 



Exanption from income tax will be permanent. 



Exemptions from taxes to -which this Article refers do not include those from tiiich 

 participation is granted States, Territories, Federal District, and Municipalities, in 

 accordance with the laws under which federal taxes are collected. 



Article 2. The exen^ation shall begin on the date on which the Ministry of Finance and 

 Public Credit makes the declaratiai referred to in Article 6. 



Article 5. The cooperative societies wishing to enjoy the exemption from taxes to which 

 Article 1 refers, shall present to the ilinistry of Finance and Public Credit the corresponding 

 application, attaching a certified copy of their charter and a statement from the National 

 Cooperative Registry that they are registered therein. 



In the case of forestry cooperatives, they shall further attach to their applications a 

 statement issued by the Department of Forestry and of Hunting and Fishing that they exploit 

 connunal or ejidal woods for the purposes of the foregoing Article. 



Local societies of ejidal credit engaged in the exploitation of communal or ejidal woods 

 shall follow the same procedure if they exploit such woods and wish to enjoy the reduction 

 established in the foregoing Article. 



Article 6. Vlhen the requirements established in the foregoing Article have been satisfied, 

 the Ministry of Finance shall declare that the society in question may enjoy the exemptions 

 established by this Decree. 



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