Chapter IX: Fiscal System

ARTICLE 159

The general budget shall be submitted to Parliament for examination and approval at least two months before the beginning of the financial year. The budget shall be approved head by head. The beginning of the financial year shall be determined by a law.

ARTICLE 160

The budget shall be discussed and approved in the first instance by the House of Representatives.

ARTICLE 161

The parliamentary session may not be terminated before the budget has been approved.

ARTICLE 162

In the cases where the budget has not been approved before the beginning of the financial year, provisional monthly credits shall be opened by Royal Decree on the basis of one twelfth of the credits for the preceding year, and revenue shall becollected and sums expended in accordance with the laws in force at the time of the preceding financial year.

ARTICLE 163

Any expenditure for which provision has not been made in the budget or which exceeds the budget estimates must be authorized by Parliament, and any transfer of funds from one head of the budget to another must be authorized.

ARTICLE 164

Between sessions or during the period when the House of Representatives is dissolved, and in cases of urgent necessity, new expenditure for which provision has not been made in the budget may be approved or sums may be transferred from one head of the budget to another on condition that such action is taken by Royal Decree and submitted to Parliament within a period of not more than one month after the next meeting.

ARTICLE 165

A draft exceptional budget may, in cases of necessity, be drawn up for more than one year to provide for revenue and expenditure of an exceptional nature; such a budget shall not be put into force until it has been approved by Parliament.

ARTICLE 166

The Audit Office shall audit the Government accounts and shall report to Parliament on the result of the audit. The powers of the Audit Office and its constitution and rules of exercising its auditing powers shall be determined by law.

ARTICLE 167

No tax may be imposed, modified or abolished except by law. No one may be exempt from the payment of taxes except in cases provided by law. No one may be asked to pay any amounts of fees except within the limits of the law.

ARTICLE 168

No pension, compensation, gratuity or payment from provident fund may be approved for payment out of the Government Treasury except within the limits of the law.

ARTICLE 169

No public loan or undertaking that is likely to be a charge on the Treasury for one or more of the following years may be contracted without the consent of Parliament.

ARTICLE 170

The Currency System shall be determined by law.

ARTICLE 171

Any dispute between the Senate and the House of Representatives concerning the approval of a head of the budget shall be settled by a decision taken by an absolute majority of the two Chambers meeting in Congress.

ARTICLE 172

All revenues of the State including the receipts from all taxes and fees and other properties shall be paid to the public Treasury in conformity with the provisions of the Constitution and the laws.

ARTICLES 173 to 175

Articles 173, 174 and 175 are repealed by Law No. 1 of 1963.