Accounting and accounting rules in Syria

Accounting Rules

Tax Year

The fiscal year begins on January 1st and ends on December 31 of the same year.

Accounting Standards

Syria is a member of the IFRS.

Accounting Regulation Bodies

Federation of Syrian Certified Accountants (ASCA)

Accounting Reports

The accounting structure comprises of audit report, Profit and Loss, balance sheet, income statement and cash flow statement.
For additional information you can consult the EStandards Forum website.

Publication Requirements

Financial statement must be filled annually.

Professional Accountancy Bodies

SYRECON , Syrian Certified Accountants Association.

Certification and Auditing

According to the law No. 20 of 1991 and the income tax law No. 24 of 2003, all the persons that are subject to pay taxes on their net earnings are required to proceed to a revision of their accounts and to obtain a certification of their fiscal declaration by a legal accountant.
You can contact an external auditor: Deloitte, Damascus; KPMG Mejjani, Damascus.

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