After indicating that where a taxation year has already been assessed on the basis of a fiscal period end (“FPE”), the Act does not have any provision that allows a reassessment to change the FPE, the Directorate went on to state:
[W]here a corporation has filed its first income tax return, but an assessment is still to be made, the provisions of the Act do not appear to prevent the corporation from sending an amended tax return with a new FPE.