Section 29: Restriction on the grant of tax relief.

(1) Any proposed tax expenditure shall be accompanied by an evaluation of its budgetary and financial implications in the year it becomes effective and in the three subsequent year, and shall only be approved by the Minister, if it does not adversely impair the revenue estimates in the annual budget or if it is accompanied by countervailing measures during the period mentioned in this subsection through revenue increasing measures such as tax rate raises and expansion of the tax base.
(2) The provisions of this section shall not apply to :
(a) changes in the rates of the taxes mentioned in section 163 of the Constitution : and
(b) debt cancellation in an amount lower than the cost of collection.