The relationship between accounting and taxation in Norway
AbstractThe financial accounting regulations in Norway have not been motivated by corporate income taxation. Nevertheless, historically there has been a close relationship between financial accounting and income taxation. As a general taxation rule, the reported financial income has been the basis for the computation of the taxable income. This has made financial reporting sensitive to tax considerations. Stricter financial accounting requirements and an innovation in the financial reporting format in the mid-1970s gradually decreased tax-induced financial reporting. The promulgation of a larger number of specific and standardized tax rules in 1992 made the computation of taxable income less dependent on accounting income. The Tax Reform in 1992 also initiated a requirement in the accounting legislation to recognize deferred taxes in financial statements.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal European Accounting Review.
Volume (Year): 5 (1996)
Issue (Month): 1 ()
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