No tax, duty, impost or excise shall be imposed, increasd, reduced or abolished,
except by law. No exemption from payment of any tax, duty, impost or excise
imposed by law shall be granted, except as authorized by law.
None of the public revenues shall be expanded, except as authorized by law.
The fiscal year shall be fixed by special law. The Council of Ministers shall, with the
approval of the Emperor, and in accordance with the requirements of the law, present
to Parliament a draft of a law for the approval of the budget of the following year,
which buget shall accompany the said draft of law.
Each of the Chambers of Parliament shall examine the said budget in detail and vote
on it item by item. Parliament shall, under no circumstances, increase the total sum
set down in the budget for expenditures. The allowance for unforseen expences in
the said budget shall be filed by Parliament. Parliament shall complete the budget for
submission to the Emperor, at least one month before the beginning of the new fiscal
If the draft of law presented, as provided in Artical 116, has not been approved by
Parliament and proclaimed as law before the beginning of the new fiscal year, the
budget of the previous year shall continue in force until a new budget law has been
If additional funds are urgently required in the course of any fiscal year, the Minister
or Ministers concerned, shall present a supplementary budget to the Council of
Ministers, who, with the approval of the Emperor, may present an appropriate draft
of law to the Chamber of Deputies.
No loan or pledge, guaranty or collateral thereof, may be contracted for, within or
without the Empire, by any governmental organization within the empire, except as
authorized by a law duly adopted in accordance with the provisions of Articals 88, 89
or 90 of the present Constitution.
Within four months after the end of every fiscal year, the Council of Ministers shall
present to the Emperor and to Parliament a detailed report on the receipts and
expenditures of the said year. The report shall immediately referred to the Auditor
General, who shall, within three months, present his comments thereon to the
Emperor and to Parliament.
There shall be an Auditor General who shall be appointed by the Emperor. He shall
be a person who is known to be of the highest character, as well as posses the
requisite technical capacity. His functions shall be defined by law. They shall include
the auditing of the accounts of all Ministeries, Departments and Agencies of the
Government, and the making of periodical reports to the Emperor and to Parliament
on the fiscal operations of the Government. The Auditor General shall, at all times, be
entitled to have access to all books and records relating to the said accounts.