PART VIII. FINANCIAL AFFAIRS OF THE UAE
Article 126
The general revenues of the UAE shall consist of the income from the following resources:
- Taxes, fees and duties imposed under a federal law in matters within the legislative and executive jurisdiction of the UAE.
- Fees and rates received by the UAE in return for services provided.
- Contribution made by member Emirates of the UAE in the Federal Annual General Budget in accordance with the article herein coming after.
- Federal income from its own properties.
Article 127
The member Emirates of the UAE shall contribute a specified proportion of their annual revenues to cover the annual general budget expenditure of the UAE, in the manner and on the scale to be prescribed in the Budget Law.
Article 128
The law shall prescribe the method of preparing the general budget of the UAE and the final accounts. The law shall also define the beginning of the financial year.
Article 129
The draft annual budget of the UAE, comprising estimates of revenues and expenditure, shall be referred to the Federal National Council at least two months before the beginning of the financial year, for discussion and submission of comments thereon, before the draft budget is submitted to the Federal Supreme Council, together with those comments, for assent.
Article 130
The annual general budget shall be issued by a law. In all cases, where the budget law has not been promulgated before the beginning of the financial year, temporary monthly funds may be made by federal decree on the basis of one twelfth of the funds of the previous financial year. Revenues shall be collected and expenditure disbursed in accordance with the laws in force at the end of the preceding financial year.
Article 131
All expenditure not provided for in the budget, all expenditure in excess of the budget estimates and all transfers of sums from one part to another of the budget must be covered by a law.
Notwithstanding the foregoing, in cases of extreme urgency, such expenditure or transfer may be arranged by decree-law in conformity with the provisions of Article 113 of this Constitution.
Article 132
The UAE shall allocate in its annual budget a sum from its revenue to be expended on building, and construction projects, internal security and social affairs according to the urgent needs of some of the Emirates.
The execution of these projects and the disbursement thereon shall be drawn from these funds, and accomplished by means of and under the supervision of the competent federal bodies with the agreement of authorities of the Emirates concerned. The UAE may establish a special fund for this purpose.
Article 133
No federal tax may be imposed, amended or abolished except by virtue of law. No person may be exempted from payment of such taxes except in the cases specified by law.
Federal taxes, duties and fees may not be levied on any person except within the limits of the law and in accordance with its provisions.
Article 134
No public loan may be contracted except by a federal law. No commitment involving the payment of sums from Federal Exchequer in a future year or years may be concluded except by means of a federal law.
Article 135
The final accounts of the financial administration of the UAE for the completed financial year shall be referred to the Federal National Council within the four months following the end of the said year, for its comments thereon, before their submission to the Supreme Council for approval, in the light of the Auditor-General’s report.
Article 136
An independent federal department headed by an Auditor-General who shall be appointed by decree, shall be established to audit the accounts of the UAE and its organs and agencies, and to audit any other accounts assigned to the said department for that purpose in accordance with the law.
The law shall regulate this department and shall define its jurisdiction and the competence of those working therein, and the guarantees to be given to it, its head and the employees working in it in order that they may carry out their duties in the most efficient manner.
