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Austria

In Austria the fiscal year is the calendar year, 1 January to 31 December.

Bangladesh

In Bangladesh, the fiscal year is 01 July to the next 30 June.[15]

Belarus

In Belarus, the fiscal year is the calendar year, 1 January to 31 December.[16]

Brazil

In Brazil, the fiscal year is the calendar year, 1 January to 31 December.

Bulgaria

In Bulgaria, the fiscal year is the calendar year, 1 January to 31 December, both for personal income tax[17] and for corporate taxes.[18]

Canada

In Canada,[19] the government's financial year is 1 April to 31 March.
(Q1 1 April - 30 June, Q2 1 July - 30 Sept, Q3 1 Oct - 31 Dec and Q4 1 Jan - 31 Mar)

For individual taxpayers, the fiscal year is the calendar year, 1 January to 31 December.

China

In China, the fiscal year for all entities is the calendar year, 1 January to 31 December, and applies to the tax year, statutory year, and planning year.[20]

Colombia

In Colombia, the fiscal year is the calendar year, 1 January to 31 December.

Costa Rica

In Costa Rica, the fiscal year is 1 October to 30 September.

Egypt

In the Arab Republic of Egypt, the fiscal year is 1 July to 30 June.Federation colonies changed the financial year from the calendar year to a year ending 30 June on the following dates: Victoria changed in 1870, South Australia in 1874, Queensland in 1875, Western Australia in 1892, New South Wales in 1895 and Tasmania in 1904. The Commonwealth adopted the near-ubiquitous financial year standard since its inception in 1901.[13] The reason given for the change was for convenience, as Parliament typically sits during May and June, while it was difficult for it to meet in November and December to pass a budget.[13]

The Financial year is split into the following four quarters[14]

In Austria the fiscal year is the calendar year, 1 January to 31 December.

Bangladesh

In Bangladesh, the fiscal year is 01 July to the next 30 June.[15]

Belarus

In Bel

In Belarus, the fiscal year is the calendar year, 1 January to 31 December.[16]

Brazil

In Brazil, the fiscal year is the calendar year, 1 January to 31 December.

BulgariaIn Bulgaria, the fiscal year is the calendar year, 1 January to 31 December, both for personal income tax[17] and for corporate taxes.[18]

Canada

In

In Canada,[19] the government's financial year is 1 April to 31 March.
(Q1 1 April - 30 June, Q2 1 July - 30 Sept, Q3 1 Oct - 31 Dec and Q4 1 Jan - 31 Mar)

For individual taxpayers, the fiscal year is the calendar year, 1 January to 31 December.

ChinaIn Colombia, the fiscal year is the calendar year, 1 January to 31 December.

Costa Rica

In Costa Rica, the fiscal year is 1 October to 30 September.

Egypt

In the Arab

In the Arab Republic of Egypt, the fiscal year is 1 July to 30 June.[21]

FranceIn France, the fiscal year is the calendar year, 1 January to 31 December, and has been since at least 1911.[22]

Greece

In Greece, the fiscal year is the calendar year, 1 January to 31 December.

Hong KongIn Hong Kong,[23] the government's financial year runs from 1 April to 31 March.

However, a company incorporated in Hong Kong can determine its own financial year-end, which may be different from the government fiscal year.

India

In Iran, the

In Iran, the fiscal year usually starts on 21 March (1st of Farvardin) and concludes on next year's 20 March (29th of Esfand) in Solar Hijri calendar[32]

IrelandUntil 2001, the fiscal year in Ireland was the year ending 5 April, as in the United Kingdom. From 2002, to coincide with the introduction of the euro, it was changed to the calendar year, 1 January to 31 December. The 2001 tax year was nine months, from April to December.[33]

Israel

In Israel, the fiscal year is the calendar year, 1 January to 31 December.[34]

Italy

In Italy, the fiscal year is the calendar year, 1 January to 31 December. It was changed in 1965, before which it was 1 July to 30 June.[35]

Japan

In Japan the government's financial year is from 1 April to 31 March.[36] The fiscal year is represented by the calendar year in which the period begins, followed by the word nendo (年度); for example the fiscal year from 1 April 2020 to 31 March 2021 is called 2020–nendo.

Japan's income tax year is 1 January to 31 December,[37] but corporate tax is charged according to the

Japan's income tax year is 1 January to 31 December,[37] but corporate tax is charged according to the corporation's own annual period.[38]

In Macau, the government's financial year is 1 January to 31 December.

MexicoIn Mexico, the fiscal year is the calendar year, 1 January to 31 December.

Myanmar/Burma

In Nepal, the f

In Nepal, the fiscal year is 1 Shrawan (4th month of the Bikram calendar) to 31 Ashad (3rd month of Bikram calendar). Shrawan 1 roughly falls in mid-July.[40]

F/Y - 2071/2072 - FROM 01 SHRAWAN 2073 TO 31 ASHADH 2074 TOTAL DAYS = 365 DAYS (52 WEEKS AND 1 DAY)

F/Y - 2072/2073 - FROM 01 SHRAWAN 2073 TO 31 ASHADH 2074 TOTAL DAYS = 364 DAYS (52 WEEKS)

F/Y - 2073/2074 - FROM 01 SHRAWAN 2073 TO 31 ASHADH

F/Y - 2071/2072 - FROM 01 SHRAWAN 2073 TO 31 ASHADH 2074 TOTAL DAYS = 365 DAYS (52 WEEKS AND 1 DAY)

F/Y - 2072/2073 - FROM 01 SHRAWAN 2073 TO 31 ASHADH 2074 TOTAL DAYS = 364 DAYS (52 WEEKS)

F/Y - 2073/2074 - FROM 01 SHRAWAN 2073 TO 31 ASHADH 2074 TOTAL DAYS = 364 DAYS (52 WEEKS)

F/Y - 2074/2075 - FROM 01 SHRAWAN 2074 TO 31 ASHADH 2075 TOTAL DAYS = 364 DAYS (52 WEEKS)

F/Y - 2075/2076 - FROM 01 SHRAWAN 2075 TO 31 ASHADH 2076 TOTAL DAYS = 365 DAYS (52 WEEKS AND 1 DAY)

F/Y - 2076/2077 - FROM 01 SHRAWAN 2076 TO 31 ASHADH 2077 TOTAL DAYS = 364 DAYS (52 WEEKS)

In New Zealand, the government's fiscal[41] and financial reporting[42] year is 1 July to the next 30 June[43] and applies also to the budget. The company and personal financial year[44] is 1 April to 31 March and applies to company and personal income tax.

Pakistan

The The Pakistani government's fiscal year is 1 July of the previous calendar year and concludes on 30 June. Private companies are free to observe their own accounting year, which may not be the same as government's fiscal year.[45]

Poland

In

In Poland, the fiscal year is from 1 January to 31 December.

Portugal

In Portugal, the fiscal year is the calendar year, 1 January to 31 December.

Qatar

In Qat

In Qatar, the fiscal year is from 1 January to 31 December.

Romania

In Romania, the fiscal year is the calendar year, 1 January to 31 December.[46]

Russia

In Russia, the fiscal year is the calendar year, 1 January to 31 December.[22]

SingaporeThe fiscal year for the calculation of personal income taxes is 1 January to 31 December.[47]

The fiscal year for the Government of Singapore and many government-linked corporations is 1 April to 31 March.Government of Singapore and many government-linked corporations is 1 April to 31 March.[48]

Corporations and organisations are permitted to select any date as the end of each fiscal year, as long as this date remains constant. However, new companies should consciously choose their financial year end to stretch as much as a duration of 12 months as possible.[49]

In South Africa, the fiscal year for the Government of South Africa is 1 April to 31 March.[50]

The year of assessment for individuals covers twelve months, 1 March to the final day of February the following year. The Act also provides for certain classes of taxpayers to have a year of assessment ending on a day other than the last day of February. Companies are permitted to have a tax year ending on a da

The year of assessment for individuals covers twelve months, 1 March to the final day of February the following year. The Act also provides for certain classes of taxpayers to have a year of assessment ending on a day other than the last day of February. Companies are permitted to have a tax year ending on a date that coincides with their financial year. Many older companies still use a tax year that runs from 1 July to 30 June, inherited from the British system. A common practice for newer companies is to run their tax year from 1 March to the final day of February following, to synchronize with the tax year for individuals.[citation needed]

In South Korea, the fiscal year is the calendar year, 1 January to 31 December.[51]

Spain

In Spain, the f

In Spain, the fiscal year is the calendar year, 1 January to 31 December.[52]

SwedenIn Sweden, the fiscal year for individuals is the calendar year, 1 January to 31 December.[53]

The fiscal year for an organisation is typically one of the following:

  • 1 January to 31 December
  • 1 May to 30 April
  • 1 July to 30 June
  • 1 September to 31 August

However, all calendar months are allowed. If an organisation wishes to change into a

The fiscal year for an organisation is typically one of the following:

However, all calendar months are allowed. If an organisation wishes to change into a non-calendar year, permission from the Tax Authority is required.[54][55]

Switzerland

In Switzerland, the fiscal year is the calendar year, 1 January to 31 December.[56]

Taiwan

Taiwan, the

Taiwan, the fiscal year is the calendar year, 1 January to 31 December. However, an enterprise may elect to adopt a special fiscal year at the time it is established and can request approval from the tax authorities to change its fiscal year.[57]

Thailand

In Thailand, the government's fiscal year (FY) is 1 October to 30 September of the following year.[58] For individual taxpayers it is the calendar year, 1 January to 31 December.

Turkey

In

In Turkey, the fiscal year is the calendar year, 1 January to 31 December.[59]

UkraineIn Ukraine, the fiscal year is the calendar year, 1 January to 31 December.[60]

United Arab Emirates

In the United K

In the United Kingdom,[62] the financial year runs from 1 April to 31 March for the purposes of government financial statements.[63] For personal tax purposes the fiscal year starts on 6 April and ends on 5 April of the next calendar year.[64]

Although United Kingdom corporation tax is charged by reference to the government's financial year, companies can adopt any year as their accounting year: if there is a change in tax rate, the taxable profit is apportioned to fi

Although United Kingdom corporation tax is charged by reference to the government's financial year, companies can adopt any year as their accounting year: if there is a change in tax rate, the taxable profit is apportioned to financial years on a time basis.[65]

A number of major corporations that were once government-owned, such as BT Group and the National Grid, continue to use the government's financial year, which ends on the last day of March, as they have found no reason to change since privatisation.[citation needed]

The 5 April year end for income tax reflects the old civil and ecclesiastical calendar under which New Year began on 25 March (Lady Day). The difference between the two dates is accounted for by the eleven days omitted when Great Britain converted from the Julian Calendar to the Gregorian Calendar in September 1752. At first sight the addition of eleven days to 25 March results in a tax year beginning on 5 April. However, the tax year previously actually began on 26 March. The taxes charged by the year (Land Tax and Window Tax) applied to a year "from" 25 March and, under a legal rule of interpretation dating back to at least 1628, this meant the tax year began a day later on 26 March.

For a fuller explanation about the origin of the United Kingdom income tax year see the article on the Calendar (New Style) Act 1750 under the heading Why the United Kingdom income tax year begins on 6 April.

The United States federal government's fiscal year is the 12-month period beginning 1 October and ending 30 September the following year. The identification of a fiscal year is the calendar year in which it ends; thus, the current fiscal year is 2021, often written as "FY2021" or "FY21", which began on 1 October 2020 and will end on 30 September 2021.

Prior to 1976, the fiscal year began on 1 July and ended on 30 June. The Congressional Budget and Impoundment Control Act of 1974 made the change to allow Congress more time to arrive at a budget each year, and provided for what is known as the "transitional quarter" from 1 July 1976 to 30 September 1976. An earlier shift in the federal government's fiscal year was made in 1843, shifting the fiscal year from a calendar year to one starting on 1 July.[66]

For example, the United States government fiscal year for 2021 is:

  • 1st quarter: 1 October 2020 – 31 December 2020
  • 2nd quarter: 1 January 2021 – 31 March 2021
  • 3rd quarter: 1 April 2021 – 30 June 2021
  • 4th quarter: 1 July 2021 – 30 September 2021

State governments

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