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 capacity cannot improve fiscal capacity by simply raising taxes if it does not have a political, legal and fiscal history that has supported such state-power. In comparison to Besley and Persson's individual level study, Gordon and Li (2009) focus on the role of businesses and the financial sector in developed versus developing countries. They model businesses' participation in the financial sector—where Gordon and Li specifically refer to participation in the financial sector as using banks—as participation in the formal sector; they assume that tax authorities can monitor bank records, so that mass participation in the financial sector lends the state information