<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> A fiscal year (or financial year, or sometimes budget year) is the period used by governments for accounting and budget purposes, which vary between countries . It is also used for financial reporting by business and other organizations . Laws in many jurisdictions require company financial reports to be prepared and published on a generally annual basis, but generally do not require that the reporting period be calendar year, 1 January to 31 December . Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes . The calculation of tax on an annual basis is especially relevant for direct taxation, such as income tax . Many annual government fees--such as Council rates, licence fees, etc.--are also levied on a fiscal year basis, while others are charged on an anniversary basis . </P> <P> The "fiscal year end" (FYE) is the date that marks the end of the fiscal year . Some companies--such as Cisco Systems--end their fiscal year on the same day of the week each year, e.g. the day that is closest to a particular date (for example, the Friday closest to 31 December). Under such a system, some fiscal years will have 52 weeks and others 53 weeks . </P>

When does the fiscal year begin for federal government
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