Fiscal year called –"nendo". Japan's income tax year is 1 January to 31 December, but corporate tax is charged according to the corporation's own annual period. In Macau, the government's financial year is 1 January to 31 December. In Mexico, the fiscal year is the calendar year, 1 January to 31 December. In Myanmar, the fiscal year is 1 October to 30 September. In Nepal, the fiscal year is 1 Shrawan (4th month of Bikram calendar) to 31 Ashad (3rd month of Bikram calendar). Shrawan 1 roughly falls in mid-July. In New Zealand, the government's fiscal and financial reporting year is 1
Fiscal federalism in a particular country, can be determined by using certain criteria that the author has evolved. The kind of policy solution to be applied will depend on the nature of asymmetry (VFA). Thus, there can be three types of VFAs: The VFI-VFG-VFD offers a nice framework to understand and debate issues surrounding fiscal federalism. VFD is a concept that has entered the lexicon of fiscal federalism and has the power to clarify the debate on intergovernmental financial relations. Vertical Fiscal Gap as the revenue deficiency arising from a mismatching between revenue means and expenditure needs. OECD Network on Fiscal Relations