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The relationship between accounting and taxation in Norway

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  • Aasmund Eilifsen

Abstract

The 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.

Suggested Citation

  • Aasmund Eilifsen, 1996. "The relationship between accounting and taxation in Norway," European Accounting Review, Taylor & Francis Journals, vol. 5(1), pages 835-844.
    • Handle: RePEc:taf:euract:v:5:y:1996:i:1:p:835-844
    DOI: 10.1080/09638189600000053
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    Cited by:

    1. Luca Menicacci, 2022. "Financial reporting and book-tax conformity: A review of the issues," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2022(1), pages 41-77.
    2. Margaret Lamb & Andrew Lymer, 1999. "Taxation research in an accounting context: future prospects and interdisciplinary perspectives," European Accounting Review, Taylor & Francis Journals, vol. 8(4), pages 749-776.
    3. Salma Damak-Ayadi, 2007. "De L'Efficacite Des Mesures De Convergence Pour Preparer Le Passage Aux Ias/Ifrs En France," Post-Print halshs-00544879, HAL.
    4. Gjerde, Øystein & Knivsflå, Kjell & Sættem, Frode, 2011. "The value relevance of financial reporting in Norway 1965-2004," Scandinavian Journal of Management, Elsevier, vol. 27(1), pages 113-128, March.
    5. A. Eilifsen, 1998. "Auditing regulation and the statutory auditor's responsibilities in Norway," European Accounting Review, Taylor & Francis Journals, vol. 7(4), pages 709-722.
    6. Gjerde, Øystein & Knivsflå, Kjell Henry & Sættem, Frode, 2005. "The Value Relevance of Financial Reporting on the Oslo Stock Exchange over the Period 1964-2003," Discussion Papers 2005/23, Norwegian School of Economics, Department of Business and Management Science.
    7. Malcolm Anderson, 1998. "Accounting History Publications, 1995/6," Accounting History Review, Taylor & Francis Journals, vol. 8(1), pages 105-124.
    8. repec:dau:papers:123456789/2091 is not listed on IDEAS

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