PART X
FINANCE
(As amended by Act No. 18 of 1996)
114. (1) Subject to the provisions of this Article, taxation shall not be
imposed or altered except by or under an Act of Parliament.
(2) Except as provided by clauses (3) and (4), Parliament shall not
confer upon any other person or authority power to impose or to alter,
otherwise than by reduction, any taxation.
(3) Parliament may make provision under which the President or the
Vice-President or a Minister may by order provide that, on or after the
publication of a Bill being a Bill approved by the President that it is
proposed to introduce into the National Assembly and providing for the
imposition or alteration of taxation, such provisions of the Bill as may
be specified in the order shall, have the force of law for such period and
subject to such conditions as may be prescribed by Parliament:
Provided that any such order shall, unless sooner revoked, cease to have
effect(i)
if the Bill to which it relates is not passed within such period
from the date of its first reading in the National Assembly as may be
prescribed by Parliament;
(ii)
if, after the introduction of the Bill to which it relates, Parliament
is prorogued or the National Assembly is dissolved;
(iii) if, after the passage of the Bill to which it relates, the President
refuses his assent thereto; or
(iv)
at the expiration of a period of four months from the date on
which it came into operation or such longer period from that date as may
be specified in any resolution passed by the National Assembly after the
Bill to which it relates has been introduced.
Impositon of
taxation