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Impact of IFRS on Romanian Accounting and Tax Rules for Fixed Tangibles Assets


  • Costel ISTRATE

    () (Alexandru Ioan Cuza University of Iaºi, Romania)


Romanian accounting and tax rules have evolved, after 1990, from an almost complete connection to a more and more clear de jure disconnection. One reason for this development is the influence of the international financial reporting standards. Analyzing the relationship between accounting and taxation, we find some interesting evolutions in the field of tangible fixed assets. The current Romanian accounting standards include many detailed rules taken directly from the IAS 16 (the initial recognition and measurement, the revaluation, the depreciation of fixed assets), while the tax law doesn’t follow the same way. Since 2004, the Romanian Tax Code states explicitly that the accounting depreciation is separate from the tax depreciation. However, we found, for Romanian entities listed on Bucharest Stock Exchange, that the accelerated method of depreciation (a tax one) is used sometimes in accounting. More than 80% of the listed entities revalue buildings and we could think this is for tax reasons.

Suggested Citation

  • Costel ISTRATE, 2012. "Impact of IFRS on Romanian Accounting and Tax Rules for Fixed Tangibles Assets," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 11(2), pages 243-263, June.
  • Handle: RePEc:ami:journl:v:11:y:2012:i:2:p:243-263

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    Cited by:

    1. Nadia ALBU & Ioana PALARIE, 2016. "Convergence of Romanian accounting regulations with IFRS. A longitudinal analysis," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(138), pages 634-634, June.
    2. Adela Deaconu & Dan Dacian Cuzdriorean, 2016. "Accounting and the state in post-communist Romania," African Journal of Accounting, Auditing and Finance, Inderscience Enterprises Ltd, vol. 5(1), pages 59-93.
    3. Diana-Andreea, TRAISTARU, 2014. "The Application Of International Financial Reporting Standards In Romania: Advantages And Main Problems," Management Strategies Journal, Constantin Brancoveanu University, vol. 26(4), pages 271-277.
    4. Ioan Alin HOGMAN & Ioan INIªCONI & Ion DINU, 2014. "Empirical study regarding the impact of IFRS standard implementation in Romania. Costs incurred by adopting the IFRS provisions," Alma Mater University journal, Alma Mater University jornal of Sibiu, vol. 7(2), pages 45-54, November.
    5. Ioan Pop & Szilveszter Fekete & Dan Dacian Cuzdriorean, 2013. "Relationship Between Accounting And Taxation In Romania: A Behavioral Analysis," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-7.
    6. repec:clj:noecrw:v:1:y:2017:i:1:p:174-178 is not listed on IDEAS

    More about this item


    accounting vs. taxation; RAS vs. IFRS; depreciation; revaluation;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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