Glossary of fiscal terms used in Canada
There are 140 entries in this glossary.| Term | Definition |
|---|---|
| Filed tax petition |
Procedure in tax filing |
| Fiscal Pardon |
Program sometimes called ‘’Tax amnesty program’’ or ‘’Tax pardon’’ to encourage individuals and corporations to report any unreported income or GST or to file returns not previously filed. It is a voluntary disclosure for which Revenue Canada waives penalties and sometimes can negotiate an interest reduction. |
| Fiscal period |
This is the twelve-month period over which a business or profession reports its income-earning activities. The fiscal period may or may not coincide with the calendar year. The business usually establishes its fiscal period when it files its first income tax return. |
| Fiscalist |
Related to fiscal (Tax) situation |
| iled tax petition |
Procedure in tax filing |