# Constitution of the United Arab Emirates/Part 8

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PART VIII FINANCIAL AFFAIRS OF THE UAE
Article (126)
The general revenues of the UAE consist of the following resources:
    1. Taxes, duties, and dues imposed by a federal law in the matters lying within the legislative and executive jurisdiction of the UAE.
    2. The fees and wages collected by the UAE in return for the services it provides.
    3. The parts contributed by the member Emirates of the UAE in the annual budget of the UAE in accordance with the following article.
    4. The income generated from the UAE’s own properties.
Article (127)
The member Emirates of the UAE shall contribute a certain percentage of their annual revenues to cover the expenditures of the annual general budget of the UAE in such way and amount as may be specified in the Budget Act.
Article (128)
The law specifies the rules governing the preparation of the federal general budget and the closing account. The law also specifies the beginning of the financial year.
Article (129)
The draft annual budget of the UAE, containing the estimated revenues and expenditures, are submitted to the Federal National Council at least two months before the beginning of the financial year, for discussion and remarks before the draft budget is submitted to the Federal Supreme Council together with those remarks for approval.
Article (130)
The annual general budget is promulgated by an Act.
Where the Budget Act is not promulgated before the beginning of the financial year, temporary monthly allocations may be made by federal decree on the basis of one twelfth of the allocations of the previous financial year; revenues are collected and expenditures are disbursed in accordance with the laws in force at the end of the preceding financial year.
Article (131)
A spending which is not included in, or is in excess of, the budget, and a transfer from a line item of the budget to another must be made by an Act.
However, in case of pressing urgency, such spending or transfer may be made by decree law in accordance with the provisions of Article 113 of the Constitution.
Article (132)
The UAE allocates in its annual budget certain amounts from its revenues to be spent on construction and development projects, internal security, and social affairs according to the urgent needs of some of the Emirates. The cost of the implemented projects is covered from these allocations by and under the supervision of the competent federal authorities in agreement with the authorities of the concerned Emirate.
The UAE may establish a special fund for this purpose.
Article (133)
A federal tax may be imposed, amended or abolished only by an Act. No person may be exempted from payment of such tax except in the cases specified by law.
No federal taxes, duties or dues may be levied on any person except insofar as may be determined by law and in accordance with its provisions.
Article (134)
A public loan or a commitment involving disbursement of amounts from the federal treasury in a following year or years may be made only by a federal law.
Article (135)
The closing account of the financial administration of the UAE for the ended financial year shall be submitted ​for remarks to the Federal National Council within the four months following the end of the year before it is forwarded to the Supreme Council for approval in the light of the General Auditor’s report.
Article (136)
There shall be established an independent federal department headed by a public auditor who is appointed by decree to audit the accounts of the UAE, its organs, agencies and to audit any other accounts assigned to that department for auditing in accordance with the law.
The law regulates this department, determines its powers, the responsibilities of its staff, and the guarantees given to the department’s head and staff so that they can perform their duties in the best way.