A new Accounting Act entered into force in Sweden on January 1 2000, which changes the rules concerning the maintenance of accounting records abroad. The principal rule states that accounting must be carried on in Sweden. According to the new regulations, under certain circumstances vouchers may be kept abroad temporarily. If the accounting records are computer-based, the machinery may be placed abroad, but a permit must be obtained. A condition is that the business has access to the accounting system and can present information about the accounts in ordinary readable form in Sweden.
March 01 2000