Fiscal year the fiscal year is the calendar year, 1 January to 31 December. In Brazil, the fiscal year is the calendar year, 1 January to 31 December. In Bulgaria, the fiscal year is the calendar year, 1 January to 31 December, both for personal income tax and for corporate taxes. In Canada, the government's financial year is 1 April to 31 March. <br>(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
Fiscal transparency which focuses on 8 key reports centred around the budget. The term budget transparency is generally not used to refer to as wide a concept as fiscal transparency. Fiscal openness refers to fiscal transparency together with direct public participation in fiscal policy formulation and implementation. Following the global financial crisis international fiscal transparency initiatives have increasingly incorporated public participation as a key element in order to promote improved policy formulation and implementation, and to strengthen accountability for fiscal management (see below). The 1997 East Asian financial crisis first prompted the international community to set out a comprehensive codification of what